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As predicted, Apple's profits continue to weaken, as buyers go for the less expensive option of the iPhone 4 or 4S over the latest iPhone 5. Still with nearly $7 billion in quarterly profit, it can afford to wait to roll out new product lines, despite the latest year-over-year decline.
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Apple has reported slightly better than expected results ahead of its earnings call, but sales of iPhones and iPads are losing their dramatic growth of recent years, as the company reports its first drop in profit in a decade.
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