We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high. Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenalsaid Cook on the impressive figures. This upward surge in sale of iPhones is mainly attributed to Apple's decision to go for a bigger screen with the iPhone 6 and iPhone 6 plus. The iPhone 6 has a 4.7-inch screen measured diagonally while the 6 plus boasts a 5.5-inch screen which is a big leap from the 4-inch screens on iPhone 5s and iPhone 5c. iPhone sales now account for two-thirds of the company's profit with the sales of iPad going down compared to the previous year. Sales of Mac computers rose 9%, and Apple saw overall revenue gains in all geographic regions. Still, there are experts who say that Apple is a way too dependent on iPhones which could eventually lead to its fall since the smartphone market is showing signs of a slow down. But Apple's CFO, Luca Maestri downplayed these forecasts saying, "We are growing our portfolio in many ways" pointing to Apple's entry into the smartwatch segment and the recent launch of Apple Pay, the company's mobile payments system. Apple has dismissed the comments of all those criticizing its focus on only iPhones and it has proved again that it is the most valuable company in the world with a market capitalization of $651 billion.
Apple has announced its record financial results for the fiscal 2015 first quarter which ended on December 27, 2014. The Cupertino, California based company sold a staggering 74.5 million iPhone units which is way over of what analysts had expected. This amazing drive in the sale of iPhone units has made Apple post its record quarterly revenue of $74.6 billion and a net income of $18 billion which means a profit of $3.06 per share. The CEO, Tim Cook has thanked the customers for their wonderful support and their ever growing trust.