April 23, 2013 / 10:06 PM / in 5 years

BRIEF-Apple CEO acknowledged growth rate has slowed

SAN FRANCISCO, April 23 (Reuters) - Apple Inc : * CEO says ‘acknowledge that our growth rate has slowed and our margins have

decreased from the exceptionally high level we experienced in 2012’ * CEO says decline in stock price has been ‘very frustrating to all of us’ but

company ‘remains very strong’ * CEO says will review cash allocation strategy each year * CFO says ipod touch continues to account for over half of all ipods sold

during the quarter. * CFO says 300 million people now using icloud * CFO says company expects to open 30 new retail stores in fiscal 2013 * CFO says expects to borrow in United States for expanded capital return

program * CEO says got ‘really great stuff’ coming in fall and ‘across all of 2014’ * CFO says ipad mini margins ‘significantly’ below corporate average * CFO says company willing to make short term trade-offs in profits where it

sees long term potential * CEO cites “new product categories” as one area for potential growth

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