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Results raise concerns Apple has lost its tech superiority

Annual revenue falls for the first time since 2001, highlighting the slowdown in the smartphone market

"It's clear that Apple is bullish about growth in the iPhone, but there's little evidence of that growth in the actual results announced today," said analyst Jan Dawson of Jackdaw Research.


APPLE Inc posted its third successive quarter of declining iPhone sales on Tuesday, sending shares slipping despite the promise of better-than-expected holiday sales.

The world's most valuable publicly traded company said improved sales from China were around the corner,...