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Apple falls on iPhone fears

Apple's shares have suffered from concerns that iPhone sales could fall for the first time in history.
January 8, 2016

Shares in Apple (US:AAPL) have slumped to their lowest level since October 2014 following reports that the technology titan has cut iPhone orders from suppliers. Key manufacturer Foxconn has confirmed lower production volumes, fuelling fears that iPhone sales - which make up two-thirds of total turnover - could fall for the first time in history.

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More positively, Apple revealed that iPhone and iPad owners splurged more than $20bn on apps in 2015, compared with $15bn in 2014. Analysts at Drexel Hamilton predict EPS of $10.13 this financial year, rising to $11.41 in the year to September 2017 ($9.22 in FY2015)