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Apple’s results have shrunken the iPad mini’s relevance to size. Hawking nearly 27 million iPhones last quarter dwarfs all the hoopla earlier this week surrounding the launch of the tinier tablet, which may sell about the same amount in a year. Moreover, iPad profit margins don’t compare – and the mini’s will be smaller still. The phone still energizes the Apple ecosystem.

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  • Updated May 25 4:00 PM EDT. Delayed by at least 15 minutes.

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