Apple Faces Longest Sales Drop in Decades as iPhone Slumps
- Company poised for fourth straight period of declining revenue
- Services were a bright spot during lackluster third quarter
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Apple Inc. posted its third straight quarter of declining sales and predicted a similar performance in the current period, hurt by an industrywide slump that has sapped demand for phones, computers and tablets.
After the company reported a revenue decline of 1.4% in the fiscal third quarter, Chief Financial Officer Luca Maestri said on a conference call that Apple’s performance would be similar this period. An additional drop would mark the longest streak of declines in two decades — a startling slowdown for the world’s most valuable company.