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Apple issues third-quarter earnings warning

Apple today issued an earnings warning, saying the company expects to post revenues of about US$1.4 billion to $1.45 billion in its June quarter, down from previous estimates of about $1.6 billion. Apple attributed the lower revenues primarily to soft demand in the consumer and creative markets, and said revenues in Europe and Japan have become especially weak. Apple now expects to post a profit of $0.08 to $0.10 per share, down from estimates of $0.11. “Like others in our industry, we are experiencing a slowdown in sales this quarter. As a result, we’re going to miss our revenue projections by around 10%, resulting in slightly lower profits,” Steve Jobs, Apple’s CEO, said in a statement. “We’ve got some amazing new products in development, so we’re excited about the year ahead. As one of the few companies currently making a profit in the PC business, we remain very optimistic about Apple’s prospects for long-term growth.”

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