Apple profit hits record on ‘staggering’ iPhone sales

January 28, 2015

, – ‘Long run’ –

Sales of iPads dipped, but Apple set new records in the quarter for sales of Macintosh computers and revenue from digital goods bought from its App Store.

Cook remained optimistic about the long-term potential for Apple’s iPad line.

He noted that the ranks of first-time iPad buyers remain strong in China, Britain, the US and elsewhere and that the devices account for the bulk of online activity and shopping seen from tablets.

“I believe that, over the arc of time, the iPad is a great business,” Cook said. “I am thinking over the long run.”

Apple and others are still trying to tune into the rhythm of the market when it comes to how long people typically own tablets before replacing them. READ: Apple suppliers accused of poor treatment of workers.

Cook also noted that large-screen iPhones might be nibbling at one edge of iPad sales and Macintosh computers at another edge.

He was confident that an alliance between Apple and IBM announced last year will lead to iPads becoming more enticing for workplaces.

Cook also said Apple is seeing rapid adoption of the Apple Pay mobile financial transactions system, which is synched to the latest generation of iPhone.

Part 1 | Part 2 | Part 3

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