(Stephen Lam/Getty Images)

Apple just announced its Q3 earnings, slightly beating Wall Street's expectations for its earnings per share.

It also beat expectations for the number of iPhones it would selling, hitting 40.4 million units, versus the 39.9 million that analysts were expecting.

But that numbers is still down year-over year. In Q3 2015 Apple sold 47.5 million units.

This is only the second time in Apple's history that it's seen a decline in iPhone sales.

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