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Apple shares slump

APPLE shares have fallen after sales of its flagship iPhone fell well short of Wall Street expectations.

Shares of the world's most valuable technology corporation fell more than 5pc to below $400 (€289) after it said it sold 17.07 million iPhones -- well short of the 20 million expected by analysts.

The September quarterly report was Apple's first under new chief executive Tim Cook, who took over in August after co-founder Steve Jobs resigned.

Mr Jobs, the company's co-founder, died on October 5.