Apple Posts Net Profit Of $11.1Bn

Still, with the China market still very much enamored with the iPhone and the Apple Watch continuing to gain ground, Apple has at least a good shot at wowing us yet again. It’s also introduced new services like Apple Music and Apple Pay that are meant to make the iPhone more useful.

Apple is expecting revenue of between $75.5 billion and $77.5 billion for its current quarter, which will include a full three months of sales of the new iPhones.

Apple posted record sales of its latest iPhones in the first weekend that they hit stores in late September as it included China sales for the first time.

Even Apple’s mysterious “other products” category had an outstanding quarter.

Last year’s iPhone 6 and 6 Plus tapped into strong demand from consumers who had envied the larger screens offered by Apple’s competitors.

Mac: Sales in the quarter rose a meager 3 percent in units and 4 percent in dollars to 5.71 million and $6.88 billion, respectively. However, iPad sales dropped 20 percent to 9.89 million.

The sales figure is a far cry from the recent 3-month period, however, when the company recorded sales of $13.3 billion in China.

The tech giant claimed its revenue was a new company record, and just above the $51 billion projected heading into the quarter.

Nonetheless Apple CEO Tim Cook was understandably upbeat on the results, and touted the ongoing innovation at the company as core to the firm’s success.

Cook also said that it has been a huge first day of pre-orders for the Apple TV, saying that “apps represent the future of TV”. He noted that the company’s outlook reflects the stronger dollar, which has stunted growth for many global companies. Excluding the effects of currency changes, Cook said the company would grow between 8% and 11% this quarter. In Q4 2015, over 30 % customers who purchased an iPhone last quarter switched from an Android device.

For the quarter, Apple sold 48 million iPhones, up from 39.2 million in the year-ago quarter. iPad sales were down to 9.9 million from 12.3 million in the fourth quarter of 2014, and Mac sales rose to 5.7 million from 5.5 million.