Apple sells 47.5 million iPhones during its fiscal third quarter; stock plunges

Apple sells 47.5 million iPhones during its fiscal third quarter; stock plunges:

Apple slightly beat estimates for iPhone sales during its fiscal third quarter, selling 47.5 million units of its iconic smartphone. That is a 35% year-over-year increase in unit sales of the device. Wall Street was looking for the company to report sales of 47 million iPhones for the period. Handset sales made up 63% of Apple's total revenues of $49.61 billion. The average price of a purchased iPhone rose by more than $100 to $662.42 thanks to the pricier Apple iPhone 6 Plus. Overall, iPhone sales rose 59% in dollar terms to $31.37 billion. "The gap is widening between us and our competitors," ...