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Apple Watch has record breaking quarter and it's not letting up

Apple Watch has record breaking quarter and it's not letting up

If a recent patent found by Patently Apple is anything to go by, then Apple is readying to re-introduce an advanced version of Touch ID on its future iPhones and this fingerprint recognition system will absolutely blow away its Android competitors as it is something that's yet unseen in technology.

Of course, the iPhone is still the primary vehicle for accessing Apple's services, so it's not like the company can simply shrug its shoulders at the continued slump.

Apple's share price is up 5% in pre-market trading on the Nasdaq.

While streaming services are only going to compete more for our screens and money, Cook expects consumers to have multiple options and said that "We're going to do our best to convince them that the Apple TV+ product should be one of them".

Reiterating that India is an important market for Apple, CEO Tim Cook said the current iPhone manufacturing will see maximum growth in days to come amid the renewed push to open its branded retail stores in the country.

Apple had a challenging first quarter, with iPhone shipments dropping by a "staggering" 30.2 percent from a year earlier to 36.4 million units, IDC reported.

Products such as Apple Pay, Apple Care, and Apple Music generated a record $11.5 billion in revenue during the quarter, a 16% increase from a year ago.

Apple's first quarter earnings from 2019 show a mix of highs and lows, among them the much-discussed iPhone revenue.

At least eight brokerages hiked their price targets on the stock following Apple's report, with Jefferies making the most aggressive move by raising its target by $50 to $210.

The Cupertino, Calif. -based juggernaut beat analyst expectations for earnings per share, however, bringing in $2.46 a share the quarter against the predicted $2.36.

"iPhone pricing had gotten greedy in 2018 and it makes sense to trim prices in 2019", said Neil Mawston, executive director of the global wireless practice at Strategy Analytics. This marks a 5% drop from the same period past year and the decline mostly came from the iPhone. "Combine this with the fact that most competitors will shortly launch 5G phones and new foldable devices, the iPhone could face a hard remainder of the year", IDC added. The company has set a goal of 500 million by 2020.

Apple has announced more storming results for its wearables segment, with a record-breaking quarter for the Apple Watch. Cook specifically calls out the company's "strongest iPad growth in six years". "But we're learning a lot", he said.

Tom Plumb, founder of Wisconsin Capital Management and an Apple shareholder, said the results looked good, especially the uptick toward the end of the quarter.

The Cupertino, California, company first breached a trillion-dollar valuation in August previous year.

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