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10th-anniversary edition release: Apple posts dip in iPhone sales

Shares of the world's most valuable listed company dropped down 1.9% at $144.65


Apple Inc reported a surprise fall in iPhone sales for its second quarter on Tuesday, indicating that customers may have held back purchases in anticipation of the 10th-anniversary edition of the company's most important product later this year. Under pressure from shareholders to hand over more of its $250 billion-plus hoard of cash and investments, Apple boosted its capital return programme by $50 billion, increased its share repurchase authorization by $35 billion and raised its quarterly dividend by 10.5 percent. Investors were unmoved, sending shares of the world's ...

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First Published: Wed, May 03 2017. 03:26 IST