Though the company continued to be extremely profitable during the December quarter, with record net income of $18.4 billion through sales of $75.9 billion in the December quarter, Apple's advantage from the accelerated adoption of smartphones across the globe is reducing.
Soaring sales of the iPhone fueled Apple's ascendance into the world's most valuable company, accounting for about two-thirds of the company's revenue.
It didn't hurt that the company that Steve Jobs built sold a record 74.8 million iPhones during the fourth quarter, not to mention 16.1 million iPads, and 5.3 million Macs. "Other Products", which includes the Apple Watch and Apple TV, grew its revenue 62 percent year-over-year, bringing in 4.3 billion this quarter.
For its next quarter, Apple is forecasting revenue of between $50 billion and $53 billion, with gross margin between 39 per cent and 39.5 per cent.
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Those figures helped the Cupertino company hit a major milestone - one billion active devices, including iPhone, iPad, Mac, iPod touch, Apple TV, and Apple Watch.
"Beyond the short term, we remain confident about the long-term potential of the China market and are maintaining an investment plan", Cook said, alluding to the slow economic growth in China, particularly Hong Kong.
For the three months to the end of March, Apple said it expects to report sales of between $50bn and $53bn (£35-37bn), which will mark a decline on the $58bn during the same period a year ago.
Personally I don't think Apple has anything to worry about just yet, the new iPhone 7 will be out later this year, and many people who did not upgrade from the iPhone 6 to the iPhone 6S will probably buy the new model. Over the past several years, Apple could be relied upon to post massive iPhone sales that passed the preceding year's handily.
"We have now completed 153 billion United States dollars of our $200 billion capital return programme".
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