The results were good, with Apple raking in record revenue - up 18 per cent quarter-on-quarter, and 20 per cent year-on-year. Global sales made up 61 per cent of the total number. Raymond James analysts said in a statement: "While the company believes units are a less relevant metric, we strongly disagree - particularly since we believe iPhone units will begin to decline y/y as a result of higher average selling prices".
Most analysts were still upbeat on fourth-quarter results, and there was no obvious fallout for rest of the FAANG group of major USA tech stocks.
"If you go to the market and you push your cart up to the cashier and she says, or he says, 'How many units you have in there?' It doesn't matter a lot how many units there are in there in terms of the overall value of what's in the cart".
Apple's Services business reported a 17 percent increase in revenue to $9.98 billion. As the FT reports, CFO Luca Maestri "unexpectedly gave notice" that Apple would stop reporting unit sales for iPhones, iPads and Macs, starting from next quarter. The device is Apple's newest entry-level smartphone, and is pegged to do well: like the new iPad Pros, it retains some of the iPhone X's key features, with a significantly larger 6.1-inch screen and at a more reasonable price. Investors, and price-conscious consumers alike, will both wonder how much more Apple can charge for future iPhones and iPads to keep sales growth humming along. The total revenue amounted to $62.9bn with earnings per share of $2.94.
The change is in line with how Apple already treats other hardware sales - such as those of the Apple Watch and HomePod - which it groups together rather than revealing sales in individual categories.
Before Thursday, Apple shares had withstood a recent tech stock rout. What makes the scenario worse for Apple is, this is the fourth consecutive quarter when the Cupertino giant has witnessed either negligible growth or absolutely no growth in the quarterly sales of iPhone.
Cook added that the company is also continuing its push into education, coding and environmental initiatives. Last month the shares were changing hands for $233. The most notable message came during the earnings call where Cook revealed that it is looking to set up retail stores and expand local manufacturing in India.
"We've had really great productive discussions with the Indian government, and I fully expect that at some point, they will agree to allow us to bring our stores into the country".
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