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Apple iPhone sales down again

The company beat estimates, but its most important product is running into trouble.

Now playing: Watch this: Apple reports decline in iPhone sales

Apple made $42.4 billion in revenue with net income at $7.8 billion in its fiscal third quarter. That sounds like lots and lots of money, right? Apple beat analysts' estimates with its quarterly earnings report. However, the iPhone is in a slump. Sales are below those of a year ago at the same time.

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Apple iPhone sales down again