The Company posted quarterly revenue of $53.8 billion, an increase of 1 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.18, down 7 percent.
"This was our biggest June quarter ever - driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends", said Tim Cook, Apple's CEO.
Apple iPhone shipments fell 11 per cent in the quarter globally but in India, it grew 19 per cent (YoY), according to Counterpoint Research.
"In fact, on a constant currency basis, we actually grew slightly in emerging markets. We grew in every category outside of iPhone".
"In emerging markets, we returned to growth in Mainland China, grew strong double digits in India and Brazil and we set new Q3 records in Thailand, Vietnam and the Philippines", Maestri added.
iPhone sales continued to slide, accounting for less than half of the company's overall sales for the first time in several years, with net sales down to $25.99bn from $29.47bn in Q3 2018.
The statement was made in response to a rumor of Apple moving the production of the Mac Pro out of the United States due to tariffs on components coming from China.
Japan downgrades South Korea as trade partner as bitter dispute escalates
The NIS officials did not provide a specific answer when asked whether South Korea was involved in protecting Mr Jo, she said. Tokyo says that issue was settled by a 1965 treaty that normalized ties between the two countries.
However, the lawsuit alleges that Apple was only looking for money, as the slowed down iPhones forced many to purchase new models that didn't suffer from any performance hiccup.
"Amid the slowdown in China and likely launch of 5G capable iPhone in 2020, Apple will have to concentrate its efforts on emerging markets, ' Counterpoint noted". Jefferies Financial Group boosted their price objective on Apple from $160.00 to $210.00 and gave the stock a "hold" rating in a research note on Wednesday, May 1st.
The Wall Street Journal reported in June that Apple is shifting manufacturing of its new Mac Pro desktop computer to China from Texas. In addition, the Apple Card credit card will be launching soon in the United States as the number of Apple Pay transactions is already increasing.
But Apple's pricing and distribution plans for those services will determine how quickly they could ramp up: In particular, it remains to be seen just how Apple will roll out the SVOD, which will impact the size of theopportunity and likelihood of uptake in a crowding market.
Sales in its Mac, iPad, and wearables, home & accessories divisions all increased, as did revenues within its services arm.
Apple saw its stock rise by more than four per cent after reporting better than expected earnings and revenue, after two consecutive down quarters, for the third quarter of its fiscal year.
The Services vertical clocked $11.5 billion in revenue.
"We couldn't be happier with the progress", Apple CEO Tim Cook said during a Tuesday conference call. Services growth was up 18 per cent and Apple now has over 420 million paid services subscriptions across its products.