For the first time in the history of the Apple iPhone, Apple reported lower sales of the device on a year-over-year basis. For the company's fiscal second quarter, which covered the period from January through March, Apple sold 51.2 million iPhones. That was down 10 million units from the 61.2 million it sold during the same quarter last year. That works out to a drop of 16.3%.
Investors were dumping Apple shares after the report with the stock trading at $97.25, down $7.10 in after hours trading.
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