Apple drops unit shipments as it posts fourth-quarter results

The Citibank 10 percent cashback is valid on iPhone models bought via offline stores

The Citibank 10 percent cashback is valid on iPhone models bought via offline stores

"I can reassure that it is our objective to grow unit sales for every product category that we have", Apple's chief financial officer Luca Maestri told financial analysts.

Apple released its latest iPhones, models selling from $1,000 to $1,500, at the tail end of the quarter, and those appeared to get off to a strong start. Cook was responding to a question on whether Apple is at a disadvantage in India, as compared to other markets, in terms of ability to own stores and manufacture its products.

Apple shares dived over five per cent as United States markets opened today, causing the Californian company to fall below its $1 trillion valuation as investors reacted to its prediction of a Christmas slump.

The forecast also may increase investors ' anxiety about the technological companies, whose shares are subjected to sale due to weaker than anticipated results Amazon and Google. Apple reported that they sold 46.89 million iPhones versus Wall Street consensus expectations of 47.5 million units sold. "We were pleased with Mac momentum in emerging markets, with strong growth in Latin America, in India, the Middle East and Africa, and Central and Eastern Europe", the Apple CEO said. The pilot program covers mobile devices and Macs alike, and it would extend support beyond the current five to seven years Apple now offers.

Mike Levin, co-founder of Consumer Intelligence Research Partners LLC, a market-research firm that surveys Apple customers, said the change shows Apple executives are thinking about their business in ways they haven't wanted to say aloud.

Apple said the data is less relevant to the strength of its business as customers bundle products, such as an iPhone paired with its wireless AirPods headphones, along with paid subscription services like Apple Music to listen to songs and iCloud storage for photos. These look like good growth figures, especially in Japan.

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Apple's stock (AAPL) took another leg lower in after-hours trading on this shift in reporting policy.

Before Thursday, Apple shares had withstood a recent tech stock rout.

Investors have never been able to check on the progress of some devices, like the Apple Watch, and some fear that any forthcoming slump in the key area of iPhone sales would be hard to spot. Instead it would focus on revenue, margins and cost of sales.

The new numbers are important for two reasons.

The company's boss Tim Cook said it expected a series of headwinds to weigh on growth in the coming months.

It's net profit climbed 32 per cent to $14.13 billion on revenue that was up 20 per cent to $62.9 billion with help from growing sales of digital content and services to users and other Apple gadgetry.

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