Apple sells more iPhones than expected in third quarter

Apple Inc sold more iPhones than Wall Street expected in the third quarter and forecast revenue in the current period would top many analysts' targets, soothing fears that demand for Apple's most important product had hit a wall. The world's most valuable publicly traded company said it sold 40.4 million iPhones in the third quarter, down 15 percent from the year-ago quarter but slightly more than the average analyst forecast of 40.02 million, according to research firm FactSet StreetAccount. IP