Apple plunges in European trading as profit growth slows

Apple plunged this morning in European trading after posting the slowest profit growth since 2003 and the weakest sales increase in 14 quarters.

24th January, 2013
“We’re working on some incredible stuff,” said Apple boss Tim Cook.

Apple plunged in European trading after posting the slowest profit growth since 2003 and the weakest sales increase in 14 quarters, as higher costs and rising competition made it harder to sustain revenue expansion.

The company dropped 8 per cent to €352.34 euros in Germany after saying that profit rose less than 1 per cent to $13.1 billion, or $13.81 a share, in the period that ended December 29th. Sales rose 18 per cent to $54.5 billion,...

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