iPad is an iFAD: NOW we know why Apple went running to IBM

Apple is chuffed to point out strong Mac and iOS device sales and a $37.4bn-revenue quarter, but the shock news is a definite slump in iPad numbers.

The Cupertino giant said the three-month period ending June 28 was Apple's best ever fiscal third-quarter return. The $37.4bn revenues, up six per cent year on year, led to a $7.7bn net income up from $6.9bn a year ago.

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