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The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%.

In the recent quarter, Apple’s iPhone revenue was $46.8 billion compared to $45.9 billion in the year-ago quarter. This is less than 2% YoY growth and does not show any sign of a big upgrade cycle.