The average selling price of iPhones was $793, well above analyst estimates of $750.78.
While Apple did announce record results, it also shared that it will stop sharing sales number of iPhone, iPad and Mac starting next quarter.
Eight brokerages cut their price targets for Apple, but only one - Bank of America Merrill Lynch - cut its rating on the stock, to neutral from buy. It expects between $89 billion and $93 billion in revenue for its next quarter, whereas Wall Street expects $93 billion.
Analysts had been looking for $741. The CFO tried to soft-soap the decision by telling analysts "a unit of sale is less relevant today than it was in the past" due to the wide range of models and price points and the reporting change is in the "best interest of investors".
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The Cupertino, California-based company blamed weakness in emerging markets and foreign exchange costs for a disappointing forecast for sales in the run-up to Christmas that are crucial to results for consumer electronics producers. One must remember that the iPhone XS, released in September, won't show up in sales until next quarter.
The world's most valuable publicly-traded firm posted a revenue of $62.9 billion, up 20 per cent from the previous year. Apple bundles everything else into the "Other Products" category and only gives a total figure of $4.2 billion in revenue that came from AirPods, Apple Watch, Apple TV and everything else you can find in an Apple Store. He said Apple is trying to make up for slowing unit sales growth by charging more for its lineup of devices.
Both, the declining/stagnating sales and increasing ASP of iPhone, has been attracting enough criticism for Apple, especially at the time when the growth of the global smartphone market is largely driven by developing markets, likes of India. Global sales accounted for 61 percent of the total revenue, while services revenue touched an all-time high of $10 billion. But seriously, now we know exactly how much, after seeing the numbers from the company's Fourth Quarter Results.
Piecyk said the reporting changes raised questions about whether iPhone sales peaked in 2015, when the company sold 231m handsets.
Cook acknowledged that business in India was flat in the fourth quarter. These are markets where currencies have weakened over the recent period.