Apple Pins Hopes on iPhone 7 as Profit, Revenue Decline – Wall Street Journal

Apple Inc. posted its first annual revenue decline in 15 years, but projected a return to growth in the current quarter behind strong sales of its new iPhone 7.

Apple has grown to be the most valuable company in the world over the past decade on the tremendous success of the iPhone. But that formula proved less effective in the past year amid lukewarm sales of the iPhone 6S models and slowing growth in smartphone sales world-wide,…


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