: Apple predicts record holiday sales, but that isn’t enough to save stock

Apple Inc. revealed a blockbuster September quarter Thursday and predicted record revenue for the holiday season.

That wasn’t good enough for investors, though.

The smartphone manufacturer on Thursday reported that it had grown revenue by 20% in its fiscal fourth quarter, thanks in part to strong momentum for the latest iPhones. The iPhone business grew by the largest percentage in years, rising 29% as the iPhone XS and XS Max hit shelves.

Those numbers were somewhat of an anomaly, to be sure: Part of Apple’s AAPL, +1.54% September quarter this year featured two expensive new phones, whereas the company hadn’t yet rolled out the pricey iPhone X as of the end of its year-earlier quarter.

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