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Apple shares fall over concerns that iPhone sales are peaking

Name: Apple shares fall over concerns that iPhone sales are peaking
Uploaded: 2015-07-22T08:31:00-0400
Duration: 3 min 28 s
Description: Apple's stock got hammered after the release of its quarterly earnings Tuesday. The company reported nearly $50 billion in revenue, up 33 percent over last year. Although profits surged to more than $10 billion, sales of the iPhone fell short of Wall Street expectations. CBS News contributor and NewYorker.com editor Nicholas Thompson joins "CBS This Morning" to discuss the concerns.

Apple's stock got hammered after the release of its quarterly earnings Tuesday. The company reported nearly $50 billion in revenue, up 33 percent over last year. Although profits surged to more than $10 billion, sales of the iPhone fell short of Wall Street expectations. CBS News contributor and NewYorker.com editor Nicholas Thompson joins "CBS This Morning" to discuss the concerns.