Apple Reports One Billion Active Devices Across the Globe

Mac sales in China, which increased 21% year-over-year, helped bolster the quarter.

Apple’s stock has been in a slump for months, as investors worry that the company won’t be able to duplicate last year’s growth in sales, which were in the double-digit percentages.

Finance director Luca Maestri attributed Apple’s relatively lacklustre revenue to the strength of the USA dollar, which he said knocked about $5bn off the total figure.

Kagan said he expects the newest version of the iPhone to spur growth, provided it has the right eye-catching new features. The figure is based on the number of iPhone, iPad, Mac, iPod Touch, Mac, Apple TV and Apple Watch engaged with Apple’s service in the past 90 days.

Revenue in “Greater China” was up 14 percent for Apple but weaker in the United States and Japan. It’s quickly becoming the fastest growing BRIC country.

The tech giant has taken a hit from a slowdown in the key Chinese market, as well as competition from the likes of Samsung.

Apple’s latest financial results brought nearly no surprise in terms of iPhone sales, and despite analysts’ estimates, the company’s flagship didn’t decline during the first quarter of fiscal year 2016.

Apple posted $18.4 billion in earnings with revenue of $75.9 billion, which beat the $18.22 billion profit projections by analysts but fell short of the revenue projection of $76.67 billion.

At the end of March 2015 Apple reported quarterly revenue of $58 billion, projections for the second quarter of this year peg revenue between $50 billion and $53 billion, a drop of about 8.6%.

Moreover, Apple’s forecast for its revenues is also not encouraging which is expected to decline for the first time in 13 years on the year-to-year basis. It was also the first big quarter for the iPhone 6s and 6s Plus, which saw very little growth from past year. The holiday quarter is always Apple’s (and most retail companies’) biggest money making period of the year. Much attention will be paid to the anticipated release of the iPhone 7 later this year to see whether it will encourage existing iPhone users to upgrade their devices and Android device owners to jump ship.