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Apple Beats Expectations

Everyone can stop their hand wringing and step down off their soapboxes prophesying doom for Apple. In its earnings report today, the technology giant beat Wall Street revenue expectations by $1.3 billion and also announced it was doubling capital returns for shareholders totaling up to $100 billion in cash. However, profit did decline for the first time in a decade, down from $11.6 billion in the first quarter of 2012 to $9.5 billion this past quarter.