Apple earnings: iPhone sales won't be revealed, what Wall Street says

Apple plans to make Face ID even better

Apple plans to make Face ID even better

Shares in the company based in Cupertino, California, fell more than 7 percent to $206.31 in extended trading after the numbers came out. Now Apple is making a change to ensure it doesn't have to talk as much about that problem.

But Cook stressed that Apple was happy with its performance in China, where revenue grew 16 per cent to $11.4 billion, the fifth quarter in a row the company has had double-digit growth in the region.

'Apple will have trouble maintaining its recent valuation bump if the market clearly sees declines in shipments, ' said analyst Richard Windsor on his Radio Free Mobile blog.

Apple has provided investors with this information for the past 20 years, with the upward trajectory of iPhone sales in particular over the past decade helping drive its market value up. But the growth in the number of iPhone units that the company sold was flat, with the revenue growth largely coming due to increase in the average selling price of the iPhone and momentum with Apple services.

CEO Tim Cook unveils updates to the Mac Mini, the iPad Pro and the Macbook.

The company was criticized for its decision to no longer disclose iPhone related sales figures, implying that the company now believes that iPhone sales have peaked.

Apple, which topped the $1 trillion mark on August 2, had a market value of $1.073 trillion at the close of trading on Thursday, according to data compiled by Bloomberg. However, the weaker guidance on first fiscal of 2019, ending December 31, 2018, hasn't gone well with the Wall Street.

Its fourth quarter results, covering the three months to October, showed Apple sold fewer iPhones than analysts had expected - nearly 47 million - but revenues and profits all smashed forecasts.

Cook is bullish on Apple's success in India in long term run, as more and more people are moving to the middle class and the Modi government is really "focused on reforms in a major way and made some very bold moves and I applaud them for doing that and can't wait for the future there".

The company forecast revenue between $89 billion and $93 billion for the current holiday quarter, which also was less than Wall Street had hoped for, further raising doubts about the company's iPhone sales.

In contrast, Apple's services business, which includes Apple Music and iTunes, continues to grow, with revenue up 17% on this time previous year to just under 10 billion dollars (£7.6 billion).

When asked about how Apple plans to continue growing its services business, CFO Luca Maestri highlighted the "exponential trajectory" of all of Apple's services from Apple Music to the Apple Store to Apple Pay.

"We generated iPad growth in a number of key regions around the world, including Latin America, Europe, Japan, India and South Asia".

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