Silhouette of mobile user is seen next to a screen projection of Apple logo in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration
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Shares of Apple Inc. rose 3 percent Wednesday after the company's quarterly report and current-quarter iPhone sales forecast calmed investor nerves about a potential slowdown in sales of its product.Yet while investors were bracing for weak smartphone sales, Apple sold 52.2 million iPhones, just shy of analysts' estimate of 52.3 million.Two other analysts estimated Apple would sell about 40 million iPhones in the current quarter, based on Apple's June quarter revenue forecast of $51.5 billion to $53.5 billion and shares in Apple parts suppliers were also broadly higher.While Apple's iPhone sales were marginally lower than consensus forecasts, its quarterly results still beat Wall Street targets, helped by a $9.1 billion revenue contribution from Apple's services business.
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