On its Q1 earnings call, Apple reported slow iPhone growth and missed revenue targets. The Wall Street Journal summarizes results: "Apple said iPhone sales grew at the slowest pace since its introduction in 2007 for its first fiscal quarter ending in December." Business Insider, similarly, reports, "Apple's holiday-quarter revenue of $75.9 billion missed analyst expectations as well as the company's own guidance."
Of course, Apple's press release paints a different picture:
The Company posted record quarterly revenue of $75.9 billion and record quarterly net income of $18.4 billion, or $3.28 per diluted share. These results compare to revenue of $74.6 billion and net income of $18 billion, or $3.06 per diluted share, in the year-ago quarter. Gross margin was 40.1 percent compared to 39.9 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter's revenue.
Our team delivered Apple's biggest quarter ever, thanks to the world's most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV," said Tim Cook, Apple's CEO. "The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices."
Tim Cook did admit that the iPhone is increasingly expensive overseas because of foreign exchange rates.
Analysts don't seem too worried about the company's future. Of 14 analysts, 12 remain "bullish," while only two are "neutral."