Apple’s iPhone sales continue to drop as its profits go through the roof

Despite declining iPhone sales over the last year, Apple continues to breeze through the competition as the company clinches an all-time high market share profit for the third quarter of 2016.

BMO Capital Markets analyst Tim Long estimates that the Cupertino giant has snatched an impressive 103.6 percent of all smartphone industry operating profits over the last quarter, the Investor’s Business Daily reports.

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