Apple Inc. saw its shares tumble following its first fiscal quarter earnings report
While iPhone sales were at the low end of estimates for the December period, Apple's revenue guidance for the March quarter also fell below estimates
The company predicted a revenue range of $41 billion to $43 billion, while analysts were expecting $45.6 billion, according to FactSet
The company also did not give an EPS forecast for the period, breaking with past practices
Its gross margin forecast had a mid-point of 38%, which will disappoint investors hoping the company could return to its normal level above 40%
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