Gross margin was 40,1% compared to 39,9% in the year-ago quarter.
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Cook told CNBC that the January-to-March quarter will be rough, indicating a shrinkage in iPhone growth.
Apple posted a net profit of $18.4 billion for the quarter ended December 26, 2015 (Q1 FY16) and the company generated revenues of $75.9 billion. This, however, was countered by drops in revenue for the Mac and iPad as well as the slowest growth in iPhone sales since the handset was first launched.
Some investors are already treating Apple more like a value stock than a growth stock, associating the company with predictable business results and a reliable dividend. Only Alps Electric bucked the trend, with shares of the electric parts manufacturer dropping 0.85 per cent by late-afternoon trade.
Cook also said more than one billion Apple devices are being used worldwide, an installed base that Apple will rely on to expand recurring software and services revenue as it attempts to reduce its reliance on the iPhone.
Apple sold a record 13 million of the new devices across 12 countries over the opening weekend, with analysts estimating sales of between 2-3 million units in China.
The company defines an active device as one that has been engaged with Apple’s services within the past 90 days.
“India is incredibly exciting”.
They also said that Apple, which derives two thirds of its revenue from worldwide markets, saw sales growth constrained as foreign currencies continued to tumble against the dollar.
Total iPhone sales grew 76 per cent in India, according to the company.
“They are going to have to figure out something else, and you hope it something other than a vehicle because that is going to take a while”.
And while Apple is reportedly working on a vehicle, what it plans to do in that area and when are still unclear.
The company also announced there’s a billion Macs, iPhones, iPads, Apple Watches, and Apple TVs actively being used at this moment. That would probably mean a decline from the $58 billion in the same period of 2015.
Apple Inc’s (AAPL.O) downward trend is said to have disappointed chief strategist at TD Ameritrade J.J. Kinahan, who said the technology company missed a chance to introduce a product that could excite the market and arrest the downward slide of the company’s sales. Services accounted for $6 billion. IPad sales show no signs of rebounding.
Avi Greengart at the research firm Current Analysis said things did not appear that bad for the world’s biggest company by market value.
By reports and as Shah said, the company’s smartphone market share stands at less than 2%, where around 70% smartphones sell for less than $150.
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Earlier this week it emerged that the iPhone made Apple more money in a single quarter than Google’s Android platform has EVER made.
