More consumers are buying the least expensive iPhones and iPads, a new phenomenon that is causingApple's breakneck growth rate to slow.

NEW YORK (AP) — More consumers are buying the least expensive iPhones and iPads, a new phenomenon that is causingApple's breakneck growth rate to slow.

On Tuesday, Apple Inc. revealed that both revenue and net income posted increases of just over 20 percent — cause for celebration at most companies, but meager by Apple standards.

Apple's growth was the slowest in more than two years, and failed to meet analyst expectations.