In terms of revenue, Apple broke its own record with $62.9 billion, 20% up from a year ago. On average, analysts were expecting revenue of $61.6 billion and earnings per share of $2.78. While that represents a 14 percent increase in iPhone sales when compared to last quarter, it's about the same number of iPhones sold this time a year ago. Clearly, starting prices of $999 Dollars for an iPhone X helped bump up this metric, while the even higher priced iPhone XS and iPhone XS Max will continue to push up ASP.
The company also said it would stop publishing the volumes of phones, tablets and laptops sold in the period.
In the usual conference call immediately following the financial results reveal, Cook said that new fourth-quarter records were enjoyed in all geographic categories, adding that Apple Pay transactions tripled.
"A unit of sale is less relevant for us today than it was in the past, given our breadth of our portfolio and the wider sales price dispersion within any given product line", Maestri said.
Apple shares have plunged in after-hours trading after the iPhone maker's forecasts for revenues in the the crucial Christmas period missed expectations. Sales were flat in the fourth quarter in India, Cook said. The investor reaction is based largely on a weaker than expected holiday forecast, with analysts expecting guidance to project $93bn (£71.5bn), compared to Apple's prediction of $89 to 93bn. This comes at a time when revenue segments like Services have overtaken Mac and iPad segments in sales.
It was great to get a perspective directly from the company every 90 days on what Apple products are doing great. It's possible that the per share price need to break the $US1 trillion valuation is lower due to buybacks. In the most recent quarter, Apple said sales for this category hit almost $10 billion, an all-time high and larger than most standalone businesses in the world.
The surprise move by Apple, however, has attracted strong criticism by analysts and journalists who believe that Apple wants to judge its cart by value and not by volume. It also helps that they are sitting on over $200 billion of cash that they put to work in the form of dividends and share buybacks.
Asif Khan is the CEO and majority shareholder of Shacknews.
Keep in mind that these are units refurbished by Apple itself, which means you they're tested, certified, cleaned, given a new battery and outer shell, and come with a one-year warranty that you can extend with AppleCare+.