Apple loses $1 trillion status after soft holiday forecast

The iPhone 5 was one of the best iPhones Apple ever built

Technology analyst Daniel Ives of Wedbush Securities said that although he understands the logic of the decision ー considering average selling prices are all over the board ー it damages Apple's reputation of transparency.

But investors are fixated on the number of iPhones that Apple sells from quarter to quarter, because those revolutionary devices are the key to the company's ongoing success.

Keep in mind that these are units refurbished by Apple itself, which means you they're tested, certified, cleaned, given a new battery and outer shell, and come with a one-year warranty that you can extend with AppleCare+.

Other major smartphone makers don't reveal their quarterly shipments of their devices either, but Apple has broken down its iPhone numbers ever since the phone's debut 11 years ago.

Cook in an interview with Reuters said that Apple is "seeing some macroeconomic weakness in some of the emerging markets".

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"As demonstrated by our financial performance in recent years, the number of units sold in any 90-day period is not necessarily representative of the underlying strength of our business", Apple CFO Luca Maestri said during an earnings call, noting that the company's competitors did not disclose unit sales information. The biggest takeaways from the quarter results were that a large part of Apple's revenue comes from iPhone sales, but its services division is setting new records every quarter. Sales of the iPad were down 6% year-on-year while sales of Macs were down by 2%.

Apple's revenue from other products recorded the maximum growth, bringing in US$4.23 billion, up by 31% YoY. The company's net income for the quarter was $14.13 billion compared to $10.71 billion a year ago.

"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, and we enter the holiday season with our strongest line-up of products and services ever". That beats analysts' expectations of $2.78 earnings per share on revenue of $61.4 billion. "Although the long term opportunity is significant, we expect near term pressure on shares". This resulted in iPhone revenue growing 29 percent year-over-year.

In the Q4 2018, it sold 46.9 million units, which is almost identical to 46.7 million units sold previous year in the same period. That's when the company said it would no longer reveal unit sales for its hardware, drawing the ire of some Wall Street analysts.

The Apple Services division hit $10 billion in the quarter, a record for the company.

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