Apple shareholders braced for further blow with profit decline

APPLE investors are braced for a rare fall in profits tomorrow when the company reveals how many iPhones and iPads it has sold in recent months.

Although the firm is expected to report another period of record sales for the three months to April, lower margins on its iPhone 5 and iPad mini are set to cause the first fall in profits for a decade.

Analysts are expecting a slight rise in revenues to $41.4bn (£27.2bn), but profits are expected to be 20 per cent down at between $9bn and $10bn. Anything worse could trigger further share falls, after Apple fell to 15-month lows last week.