Apple blames quarterly miss on new model anticipation, economy

An Apple logo is seen at the Apple Worldwide Developers Conference 2012 in San FranciscoSAN FRANCISCO (Reuters) – Apple Inc's results fell short of Wall Street's expectations as the European economy sagged and consumers held off on buying its flagship iPhone ahead of a new version expected in the fall, hitting its stock price. Shares of the world's most valuable technology company shed more than 5 percent of their value after Apple – which beats Wall Street expectations with near regularity – reported its second quarterly miss on results in less than a year. The stock slid to $ 570.81 in late trade. They closed at $ 600.92 on the Nasdaq. …



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