Apple Inc. (AAPL) Is Sharply Lower After Revenue Warning

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( - Apple Inc. ( AAPL ) announced after the bell Wednesday that it now expects first-quarter revenues of about $84 billion, down from prior estimate of between $89 billion to $93 billion. The consensus estimate is for revenues of $91.49 billion.

Apple has gapped open sharply lower Thursday morning and is now down 13.71 at $144.21 on above average volume. The stock has dropped to a new low for the year.

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