Apple posts surprise fall in iPhones sales

Just Pinned to Domestic and Global News: Surprise slide in iPhone sales... Apple Inc reported a surprise fall in iPhone sales for the second quarter on Tuesday indicating that customers had held back purchases in anticipation of the 10th-anniversary edition launch of the company's most important product. The company boosted its capital return program by $50 billion increasing its share repurchase authorization by $35 billion and raising its quarterly dividend by 10.5 percent. Apple sold 50.76 million iPhones in its fiscal second quarter ended April 1 down from 51.19 million a year earlier. Analysts on average had estimated iPhone sales of 52.27 million according to financial data and analytics firm FactSet. Expectations are building ahead of Apple's 10th-anniversary iPhone range this fall with investors hoping that the launch would help bolster sales. Apple typically launches its new iPhones in September. A big jump in sales usually follows in the holiday quarter before demand tapers over the next few quarters as customers hold back ahead of the next launch. Apple's 10th-anniversary iPhone range might sport features such as wireless charging 3-D facial recognition and a curved displ
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