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News Summary: Apple's revenue growth slowing

Published on NewsOK Modified: January 23, 2013 at 7:57 pm •  Published: January 23, 2013

BRICK WALL: Apple warned Wednesday that its sales in the current quarter would grow just 7 percent from a year ago, a big come-down for a company that has regularly posted 50 percent-plus growth rates.

WALL STREET REACTION: Investors sent Apple shares down 10 percent, compounding a nearly 30 percent loss since the September.

BOTTOM LINE: Apple posted earnings of $13 billion for the latest quarter, flat with a year ago. Profits are at a high level, but here, too, growth seems to have stalled.