The world’s most valuable company, Apple Inc (AAPL.US) reported three straight quarters of lower year-on-year sales and its first annual sales decline since 2001, as was expected. Apple released its earnings result for the fourth quarter of its fiscal 2016 after the closing bell, posting earnings of US$1.67 per share on US$46.9 billion of sales. The profit result was 1 US cent/share above the consensus forecast and the sales result was in line. In the same quarter last year, Apple reported $1.96 per share in earnings on US$51.5 billion of sales. Net income of US$9.0 billion in the September quarter was 19% lower than a year ago. Apple shares, which have risen over 20% since its last earnings report, fell 3% in after-hours trading post the result.