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News Summary: Apple's earnings sag again in 4Q

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The Associated Press | October 28, 2013 07:18 PM EST | AP


MORE IPHONES, LESS PROFIT: Apple sold more of its top moneymaker, the iPhone, during its latest quarter, yet the company's earnings fell 9 percent as more people bought lower-priced models.

NAGGING PROBLEM: The results announced Monday marked the third-consecutive quarter in which Apple Inc.'s earnings have declined from the previous year.

BREAKING IT DOWN: Apple sold 33.8 million iPhones in the past quarter, a 26 percent increase from the same time last year. But the prices for those iPhones averaged $577, a 7 percent decrease from $618 a year ago