Flat profits over the October-January period have resulted in Apple lowering its 2014 sales expectations resulting in a market drop from investor uncertainty.

Despite earnings beating expectations, Apple saw a near 9 per cent fall in shares value following the report of flat profits.

Despite the market uncertainty, Apple posted revenue growth of 29 per cent in the greater china region, with the company’s expansion in China contrasting with falls in sales in the U.S.

Apple CEO Tim Cook said in a statement that: “We are really happy with our record iPhone and iPad sales".

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