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MarketWatch First Take: Apple needs Mac to return to growth in the holiday quarter

Apple Inc. needs the Mac to return to growth, and it is counting on its big product launch Thursday to re-accelerate sales, which have been hurt by Alphabet Inc.’s Chromebooks.

On Tuesday, during its earnings call, Apple AAPL, +0.51% executives made a revenue forecast for the all-important holiday quarter of $76 billion to $78 billion, which was only slightly better than Wall Street’s current consensus of $74.9 billion. The company’s fiscal fourth quarter represented the third consecutive quarter of declining iPhone sales and its first decline in annual revenue and profits since 2001, the early days of Steve Jobs’s return to the company he co-founded.

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