"Over the past two months, we've delivered huge advancements for our customers through new versions of iPhone, Apple Watch, iPad and Mac as well as our four operating systems", said Cook, "and we enter the holiday season with our strongest lineup of products and services ever".
In an unprecedented move, Apple has chose to stop revealing the sales figure of iPhone from the first quarter of fiscal 2019.
Apple CEO however remains positive on India's growing smartphone market describing the company's fall as "speed bumps" in a long journey. Apple said they also would quit giving the number of iPads and Mac computers.
Apple lost its hold on the $1 trillion market cap mark after the company's latest earnings report. Apple is shifting investors focus to revenue, margins, and growth of sales. But with more than 2 billion iOS devices in the marketplace already, services like Apple Music and iCloud have a ready-built audience they can tap into. Apple lists the refurbished units starting at $499 United States dollars.
Cook in an interview with Reuters said that Apple is "seeing some macroeconomic weakness in some of the emerging markets".
'We believe this represents a massive forward opportunity for Apple and, as such, welcome the news that the company is looking into streaming video services'.
Apple's revenue from other products recorded the maximum growth, bringing in US$4.23 billion, up by 31% YoY.
"While it's frustrating how Apple, with no warning, chose to pull the plug on unit metrics, our core bull thesis does not change on the story and to some extent is emboldened by the (approximately) $800 (average selling price) story and a robust services business poised to hit $50 billion-plus in (Apple's) 2020 fiscal year", Ives said.
"For the new Pilot program, Apple will only be offering repairs for vintage devices based on part availability", 9to5Mac notes. Maestri also cited Apple competitors which did not disclose sales figures. (The $10 billion increase over last year's quarter alone would qualify as a Fortune 300 company.) And that was with virtually zero growth in the number of iPhones sold compared to last year.
Dan Ives, an analyst with Wedbush Securities, called Apple's decision to no longer give iPhone sales numbers "a tough pill to swallow". During the September quarter of 2017, Apple posted revenue of $52.6 billion. The pricier iPhone XS and XS Max went on sale in the final days of the September quarter, and the more affordable XR went on sale last month.
For its full fiscal 2018 ended in September, Apple reported revenue of $265.6 billion, beating analyst estimates of $264 billion.
Revenue for the period climbed 20 percent from past year to $62.9 billion.
So far, Apple's business has not been affected he added, pointing to a 16% revenue rise in the most recent quarter. Apple decided to make a couple of big changes to the information it discloses every quarter.