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OverviewAPI
Apple Inc. experienced a significant drop in iPhone sales leading to a 10% decrease in revenue for the January-March quarter. Despite this decline, the company reported a profit of $23.6 billion, with a surge in shares after announcing a $110 billion stock buyback and a 4% increase in quarterly dividends. The focus on subscription services has helped offset the hardware sales slowdown, with expectations for revenue growth in the upcoming quarter.

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