All eyes on Apple today, with analyst’s expecting it to announce its worst quarter for iPhone growth since 2007, along with weakness across its business.

**UPDATE: Apple exceeded estimates. It reported revenue of $42.4 billion and earnings of $1.42 per share. Analysts predicted $1.38 per share on revenue of $42.09 billion. More follows.

Tough markets

In the context of global economic weakness and political instability, it’s no surprise consumers are buying less, but analysts expect Apple to reveal a 20 percent decline in iPhone sales.

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