Apple Gives Weak Forecast, Shares Fall Nearly 7%

Apple Inc (AAPL.O) shares slumped nearly 7 percent in after-hours trading as its fourth-quarter revenue forecast fell short of estimates and it missed some targets for iPhone sales. The shares dropped to $121 after the company released its results on Tuesday, from $130.75 at the close. The forecast overshadowed Apple's strong sales in China, which more than doubled to $13.23 billion from a year earlier.

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