AirPods, HomePod and Apple Watch sales 'off the charts', according to Apple

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In the Greater China region, Apple's quarterly revenues were down 21.5 percent year-on-year to Dollars 10.2 billion. That projection pleased analysts who were expecting $51.93bn.

"Investors are slowly shifting their focus away from the iPhone cycle and valuing the company more based on the ecosystem of hardware, software, and services, but it will take several years for this to become consensus", Gene Munster, managing partner of Loup Ventures, wrote in a blog post this week.

Apple shares would need to trade at or above $217.34 for a $1 trillion valuation.

- Apple introduced new financing offers for iPhone purchases. Responding to a query on Apple's plans for India (predominantly an Android market) during its second quarter 2019 earnings call, Mr. Cook said: "I think India is a very important market in the long term". The company's other divisions including wearables, home and accessories, and services all saw gains as well.

Apple Inc. on Tuesday reported fiscal second-quarter profit of $11.56 billion U.S., a decline of five per cent from a year earlier but still better than expected. Revenue from Services checked in at $11.5 billion, setting an all-time quarterly record in the process.

In April, Apple reduced the price of iPhone X by 22%.

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Apple on Tuesday said it has 390 million total subscribers to both its own and third-party services on its devices.

In an interview, Apple Chief Executive Tim Cook said that iPhone sales started to strengthen during the last few weeks of the fiscal second quarter. Meanwhile, services, which includes everything from app sales and Apple Music to iCloud storage and all sorts subscriptions purchased through iTunes, went from 16.1% to 19.7% in just one year.

Discussing the challenges the company faces, Counterpoint said "It is increasingly hard for Apple to grow ASP's and China remains a declining market for the company. And we're growing that capability there and would like to place retail stores there", Mr. Cook said. But some analysts have been underwhelmed, regarding Apple's new service offering as an imitator of Netflix or Amazon Prime rather than a real innovation.

Meanwhile, the more mature Mac desktop and laptop business posted a 4.5% revenue drop to $5.5 billion.

"Within this category, Apple Watch is the best-selling and most loved smartwatch in the world, and produced its best results ever for a non-holiday quarter".

Earlier this month, Apple and chipmaker Qualcomm settled a two-year-old patent licensing dispute. Last year, the division grossed $3.94 billion.

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