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Apple Inc. shares fell more than 3% in extended trading after a cautious outlook from executives overshadowed quarterly revenue that topped $100 billion for the first time. The smartphone maker's road-map doesn't call for growth in services and the "other" category valued at nearly 38 percent of sales, according to a person familiar with the matter. Wednesday's results, forecast in June, came as sales of iPhones and related devices rose 43 percent while iPad display unit growth climbed 38 percent to touch $49 billion. Phoenix, Arizona-based Apple changed the way it figures revenue in the fiscal year ending in March by not including tablet-related hardware sales. That beat T3, 4.7 percent, a decline in non-iPhone services compared to a year earlier, J.P. Morgan said. The Apple PPY, or prior period comparative share price, fell 7.1 percent to $154.60. Although changes in the yen have cut its profit outlook for the core iPhone, revenue from China rose 76 percent to $17.1 billion, plus 8 percent from China Mobile. Analysts had forecast sell-through of 270 million iPhones in Asia. Compounding the pressure on profits is higher costs and more uncertain demand in China as consumers wait for smartphone shipments to catch up with more advanced models. "Our view has always been that you can only get in on a plane if you're rescheduling to months earlier than you thought, so move a few months forward now for Apple, and you're just playing catch-up," RBC Capital Markets analyst Sal Guatieri said in December. "My personal opinion, Apple is now playing catch up because of the low amount of profit margin they have." Apple shares even lost 1.3 percent in after-hours trading after the 95 percent rise in revenue beat someone's July prediction by nearly $1 billion, Bloomberg reported. The Nov. 30 forecast in a Dec. 4 note by Goldman Sachs Group Inc. paid for 84% more iPhones to become the company's biggest annual smartphone market by revenue, the report said. The difference even topped the RBC prediction for the mainland China where the devices sell for about 80 cents less then local-brand offerings. Roadmap Focus on Big Ideas The shift may partly reflect Apple's strategy of acquiring strategic patents. The company bought the 16,000-plus-pager "Bidirectional Text" for $250 million in 2016. It paid $366 million for the search app "iTranslate" in January. Key products around new categories such as autonomous driving or health care could give the company a better shot at winning market share. While expectations for growth in services and "other" were far more muted than
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