Apple's Shares Slip Again on Mounting Concerns Over iPhone Sales
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Apple Inc. fell for the third day after analysts at Morgan Stanley cut their forecasts for iPhone shipments, adding to concern about the tech giant’s primary source of revenue ahead of quarterly earnings in May.
Morgan Stanley analyst Katy Huberty lowered her projections for iPhone shipments by 1 million in the quarter ending in March and 6 million for the current quarter. Huberty now sees shipments for fiscal 2018 of 210 million, down from an earlier estimate of 217 million.