Apple falls – will its share price bounce?

Investors' patience with Apple has started to wear thin despite promises from the company that new products are on the way.

Apple continues to lose momentum. In the three months to the end of June the tech giant earned $6.9bn, a 22% fall from last year's second quarter, on roughly flat revenues of $35.3bn. Sales of iPhones jumped by another 20% year-on-year, a better-than-expected rise, but iPad sales declined for the first time on an annual basis. Overall revenue from China slid by 14%. Chief executive Tim Cook promised that new devices would be introduced next year.

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