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Is Apple facing a rare, simple pause in growth in a tough global economy or has it lost its magic for dreaming up must-have new gadgets like the iPhone?The drop erased the equivalent of $40 billion in market capitalization and came after Apple Tuesday reported its first year-over-year quarterly revenue drop in 13 years.Apple also forecast that the current quarter would be difficult.Sales of iPhones have been the engine for Apple earnings for a while.An Apple Watch that made its debut last year was seen as the company's first foray into a new product category under Cook.Analysts also pointed out that with more than a billion Apple devices being used around the world, Apple is positioned to rake in money selling content, products and services to users.
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