Apple Has Stellar Quarter, But Should Increasing Reliance On iPhone Be A Concern?

As expected, the company's new flagship iPhones were the key driver of results, owing to robust shipments to both developed and emerging markets and higher average selling prices. However, the performance of the other major product lines was mixed. The iPad continued to be impacted by a slowing tablet market and cannibalization from the new iPhones, although the Mac saw reasonably strong growth, defying the shrinking PC market.