Apple revenue misses, iPhone disappoints

Apple Inc reported quarterly revenue that slightly missed Wall Street expectations as sales of its flagship iPhone came in below analyst targets, sending its shares down more than 4 percent.

Apple said its fiscal first quarter revenue rose to $54.5 billion, below the average analyst estimate of $54.73 billion, according to Thomson Reuters I/B/E/S.

(Reporting By Poornima Gupta; Editing by Bernard Orr)