Apple misses revenue expectations on weak iPhone sales

Apple Inc. beat second-quarter earnings expectations on Tuesday, but revenue fell short of estimates based on weak iPhone sales. Its share price slipped about 2 percent in after-hours trading.
Adjusted earnings per share came in at $2.10, up from an expected $2.02 per share, according to a Yahoo Finance consensus estimate. Revenue hit $52.9 billion, just shy of analysts’ expected $53 billion average estimate.
Apple cash reserves ballooned to $256.8 billion in the fiscal second quarter, up more…

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