Finance Latest News: Apple Earnings: Which Way is Up?

As Apple reports quarterly results after the close of business their gross profit margin has been falling since it hit 47% at the beginning of 2012. The company?s top-of-the-line iPhone 5 carries the highest profit margin, analysts say but worries about low supply levels make Apple shakey. Trading sources said two high-profile oil traders, Pasi Siitonen and Simon Hutchinson, have left Morgan Stanley's European desk as Wall Street banks struggle to retain talent amid increased regulator scrutiny and a decline in revenues. U.S. stock index futures rose, helped by China's efforts to avoid a hard landing for its slowing economy, but gains were likely to be capped as the S&P 500 notched a third consecutive record closing high
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