- On Apple's (NASDAQ:AAPL) earnings call yesterday, CFO Luca Maestri said the company is on track to achieve its goal of doubling its FY16 Services revenue by FY20.
- The growth is coming from a larger percentage of the installed base paying for at least one service.
- The Q1 Services margin, a newly reported metric, was 62.8% and on the higher end of the consensus range of 55% to 65%.
- In a post-earnings interview, Tim Cook says that US-China trade tensions are easing, which could improve the company's performance in China. But the Q2 guidance still accounts for some softness. Cook says Apple is reconsidering its iPhone pricing outside the United States to drive sales.
- While Apple has stopped reporting unit sales, the company plans to regularly update investors on the installed base figures.
- Apple shares are up 5.2% premarket to $162.75.
- Previously: Apple +4% on Q1 with strong Services, downside guide (Jan. 29)
- Now read: Using Apple Each Day Can Keep The Doctor Away (Podcast)
Original article