The Services unit, which includes Apple Pay, the App Store and Apple Music reported sales of almost $7.3bn during the three months to the end of June, a rise of 22% on the same period past year. Global sales of iPhones rose 2 percent to 41 million. Apple has shown a remarkable ability to manage supply chain and ramp new iPhone models but a delay will add pressure to fulfill pent up demand in the last calendar quarter of the year.
The new 10.5-inch iPad Pro injected some badly needed enthusiasm into the tablet market, where Apple suffered 13 consecutive quarters of declines in sales. Apple is likely to introduce iPhone 8 in early September.
"We reported unit and revenue growth in all our product categories in the June quarter, driving 17 percent growth in earnings per share". Asked Tuesday about Mr. Trump's remarks, Mr. Cook deflected the question, saying that Apple had created two million jobs in America - mostly developers who had written apps for the company's products and suppliers who made parts that went into Apple products. During the third quarter, Apple sold 11.4 million iPads and 4.3 million Macs, up 15% and 1% from the prior year, respectively.
This would mark Apple's biggest iPhone refresh since the iPhone 6 was released in 2016, with the potential to trigger a big wave of upgrades and new purchases. And despite iPhone sales accounting for a majority of Apple's revenues, total unit sales have not consistently grown recently.
Apple's Services business, which includes iTunes and the App Store, continues to be a bright spot, and was its fastest growing by year-over-year change in revenue.
Overall, Apple reported revenue of $45.4 billion during the fiscal third quarter, up 7 percent from $42.35 billion during the same period a year earlier.
2017 is a big year for Apple as the iPhone celebrates its 10th anniversary. There are reports Apple could launch three iPhone models, one of which is expected to have a four-digit price tag.
CEO Cook did, however, point out that Watch sales were up 50 percent year-over-year.
This is above industry analysts' predictions of around $44.95 billion (£34 billion). It was a 2 percent jump, so it's pretty marginal, but any signs of life in the iPad is a good sign for Apple as it looks to have a complete portfolio of devices that can coexist and grow with the iPhone.
Looking forward, Apple guided F4Q17 revenue toward the $49-52 billion range while gross margin is expected to be between 37.5-38.0%. That's up from 4.1 million last quarter and represents a seven-percent revenue increase year-over-year.
According to data from Bloomberg, the options market was pricing in a 3.4% move after earnings, and the firm noted that Apple shares had risen after six of the company's last 12 earnings reports.
"[Autonomous] systems can be used in a variety of ways", Cook said during a call with investors following Apple's latest financial results.