A customer buys the new iPhone 7 smartphone inside an Apple Inc. store in Los Angeles, California, U.S., September 16, 2016. REUTERS/Lucy Nicholson
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Apple Inc. posted its third successive quarter of declining iPhone sales Tuesday and forecast slimmer-than-expected profit margins over the upcoming holiday season even as it projected record sales, sending its shares down.But a slight miss on fiscal fourth-quarter revenue and a projection of gross profit margins a touch behind analyst targets reflected broader concerns that Apple may have lost its tech superiority, even with the refreshed iPhone 7 .Apple shares fell 2.8 percent to $114.99 in after-hours trading.Apple said it sold 45.51 million iPhones in the three months ended Sept. 24 .Apple forecast revenue of $76 billion to $78 billion for the current, holiday-dominated quarter, ahead of the consensus estimate of $75.08 billion.If it hits that estimate, this quarter would be Apple's biggest on record by sales, ahead of the $75.9 billion revenue it posted in the year-ago period.
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