Apple Earnings: Profits Slip, iPhone Sales Fall Way Short of Estimates

Apple Earnings: Profits Slip, iPhone Sales Fall Way Short of EstimatesApple’s fiscal Q1 revenue and profits fell, marking the first time the company had to report such dismal numbers for this particular quarter in more than 10 years. The culprits behind the declines were slowing iPhone sales and China’s economic downturn. Apple CEO Tim Cook talking