Shrinking gross margins projected to take big bite out of Apple’s income

Shrinking gross margins projected to take big bite out of Apple’s income:
Apple (AAPL) is certainly a long way from being doomed but that doesn't mean the company is still firing on all cylinders like it's done for most of the last decade. Case in point: Fortune has surveyed several Apple analysts and all of them expect the company's next quarterly earnings report to show a decline in income compared to the same quarter last year. Granted, Apple's second-quarter earnings last year delivered a hard-to-match $12.30 earnings per share, but the projected decline to the $10 range would still mark the first time since 2003 that the company has posted a year-over-year decline in earnings.

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