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Apple Inc. (AAPL) Is Down On Disappointing Q2 Sales Forecast

Apple Inc. (AAPL) reported first quarter EPS of $3.89 after the bell Thursday, up from $3.36 a year ago. Analysts expected EPS of $3.86. Revenues rose to $88.29 billion from $78.35 billion last year. Analysts had predicted revenues of $87.28 billion.

Looking forward to the second quarter, Apple expects revenue between $60 billion and $62 billion. The consensus estimate is for revenues of $65.73 billion.

Apple has been losing ground since the open Friday and is now down 3.39 at $164.39.

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