Apple Plots Return to Growth After Coping With Aging Lineup
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Apple Inc. Chief Executive Officer Tim Cook, after making do with an aging lineup of phones and tablets last quarter, will need to look to updated devices and fresh ways to distribute its products to return to growth.
Apple, which hasn’t refreshed its iPhone and iPad since last year, managed to top analysts’ earnings projections in its fiscal third quarter yesterday, even as profit declined from a year earlier and sales rose less than 1 percent. The stock jumped as much as 5.1 percent, the most in eight months.