Apple expected to report drop in profit for the quarter

10:03 AM, Jul 23, 2013   |    comments
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(CNN) - A tough week for tech giant Apple.

First, the announcement that its developer site was shut down because of a hacker attack. And Wall Street analysts expect it to report a pretty miserable quarter Tuesday after the closing bell.

Apple hasn't unveiled any big new products in the last few months and smartphone sales have slowed. Experts expect a 22 percent drop in profit for the quarter.

But a bad quarter for Apple is a dream for just about any other company. It's expected to post a $6 billion profit.

CNN

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