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What Wall Street Thinks Of Apple’s Earnings Beat

After beating on revenues and earnings despite a steep drop in both revenues and iPhone orders and projecting a third consecutive quarter of declining profits, Apple is up nearly 8% pre-market as traders clearly liked what Tim Cook did in the quarter.

The company helped during the conference call, when the CFO said iPhone SE were attracting more new customers than expected, adding that the company now has $214.8 billion in cash outside U.S. The company also explained that seemingly having given up on “wearables“, it is now investing heavily in augmented reality and working with Chinese government to restore iTunes, movies, books. …

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