Apple reported its first profit decline since 2003 and forecast revenue that missed analysts’ estimates amid slowing iPhone sales growth and accelerating competition from Samsung.

Apple reported first-quarter sales below analysts’ predictions, adding fuel to investor pessimism that has sent shares down 27% since September.

Dell forecast third-quarter revenues that missed analysts’ estimates as its personal computer business dwindles amid a slow global economic recovery and an influx of tablet computers that has eaten into sales.

Quest Software, which makes tools to help companies manage computer systems, has accepted a sweetened $2.17bn (€1.73bn) $25.75-a-share bid from Insight Venture Partners and agreed to the addition of Vector Capital to the buyout group.