Apple stock declines and iPhones sales slow down

Shares still declined marginally, although iPhone sales were lower than expected.

iPhone revenue rose 9.6% from last year to $42.62 billion, which is missing from the Street forecast of $43.2 billion. 

Apple reported iPhone sales at $42.6 billion, up 9.7% but slightly below analysts' forecast of $43.4 billion.

Mac sales were $11.5 billion, up 25%, and well ahead of the Street's forecast of $9.3 billion 

Meanwhile, iPad sales were $7.2 billion, down 13%, and just shy of Wall Street's consensus outlook of $7.8 billion. 

Apple said sales were up 8% in the US, about 10% in Europe and 6% in China

Japan sales were down about 5%. For the rest of Asia, sales were up 23%.

Gross margin was 42.2% toward the high end of the company's guidance range of 41.5% to 42.5%.