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How can Apple Inc's recent earnings report affect stock investors in the long term?

As a stock investor, I have been monitoring Apple Inc's performance closely. With their latest earnings report showing a decline in revenue and declining iPhone sales, should I be concerned about the future of my investment with this company? Could there be potential for growth in new ventures such as the Apple Watch or Apple Pay to offset the decline in iPhone sales? Would diversifying my portfolio with other tech stocks be a wise decision at this point?

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