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Apple Falls After Missing Forecast; Jobs Saving Cash

Apple Inc. fell the most in two months on the Nasdaq after forecasting shrinking gross margins and profit that missed some analysts’ estimates, indicating that the company is making less from each iPhone and iPad it sells.

Apple dropped $8.51, or 2.7 percent, to $309.49 at 4 p.m. New York time in Nasdaq Stock Market trading. Apple predicted profit of $4.80 a share for this quarter, short of the $5.03 average of estimates compiled by Bloomberg before the announcement.