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Apple also will spend $100 billion more buying back its stock, a move that will enrich shareholders by helping to drive up the company's stock price.

"We sold 4.1 million Macs, generating year-over-year growth in many emerging markets including Latin America, the Middle East and Africa, Central and Eastern Europe and India", Maestri said.

"Since we split the line with the launch of iPhone 6 and 6 Plus in 2014", Tim Cook said, "this is the first cycle in which the top of the line iPhone model has also been the most popular". So we continue to put great energy there. On top of this, he didn't think tariff issues between the USA and China would pose a problem for sales in the future because "there's a lot of things that bind the countries together", according to a recent BBC interview.

On China, Cook said he believes it is a phenomenal country with lots of opportunity both from a market and an app developer point of view. Apple has continued to add new health tracking features to the Apple Watch and ships its iPhones with an app to manage health data and records. "So we look at China holistically, not only as a market", he noted.

He highlighted that in terms of the market in general, past year there were still half a billion feature phones sold in the world, with many of these being sold into emerging markets.

Firstly the figures confirm that the iPhone sales are flat and while Apple is still doing well for now, the sources of future growth may still be murky. "They'll be more interested in about what they buy back". "And so we've spent quite a bit of time on that, as you might guess", he said.

iPhone's second quarter performance capped a tremendous fiscal first half with $100 billion in iPhone revenue, an increase of $12 billion over last year, setting a new first half record and achieving our highest first half growth rate in three years.

In the first quarter of 2018 in India, Apple was at the third spot with 20 percent market share in the premium smartphone category, according to market research firm Counterpoint Research. Boosted by the expensive iPhone X, Apple fetched an average of $728 per iPhone in this year's quarter, an 11 percent gain from last year's average of $655.

"Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter", Cook said in a further bid to alleviate concerns. While the iPhone numbers represent slight growth for Apple, they don't match the performance some analysts and investors expected when the iPhone X launched past year.

"The Services segment will grow between 13 percent and 20 percent per year over the next five years driven by continued growth in existing services along with new, innovative services", Gene Munster, co-founder of Loup Ventures and a veteran Apple analyst, wrote in an email following the results on Tuesday.

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