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During the announcement of September quarter revenue, Cook was asked about the flat growth of iPhone sales in India and to that, Apple said it was facing a hard challenge over the Rupee depreciation but was optimistic that these are little speed bumps along a "very long journey" in India.

The stock was down on Friday, following that miss and the news that Apple will no longer break out individual iPhone, iPad and Mac sales in its earnings reports.

The slump over the weekend was the biggest single-day decline since January 2014, and the decline pushed Apple's market value down to $987 billion, after it hit $1 trillion in August.

But investors are fixated on the number of iPhones that Apple sells from quarter to quarter, because those revolutionary devices are the key to the company's ongoing success. This might be the reason behind Apple's decision of not sharing unit sales report.

Cook in an interview with Reuters said that Apple is "seeing some macroeconomic weakness in some of the emerging markets".

Additionally, Merrill Lynch analyst Wamsi Mohan downgraded shares of Apple from Buy to Neutral, noting, "We see increased risk from a weaker macroeconomic environment".

Apple's introduction of a $1,899 iPad Pro (and which, let's be honest here, Apple won't be selling many of) is a way of normalizing a high-end shift towards the $2,000 barrier. During previous earnings calls, Cook referred to Apple's Services business as a growing part of its business, one that could stand as a Fortune 100 company if it were broken out on its own.

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"The new reporting methodology is Apple's attempt to get investors to think of their entire business as a service", Munster says.

Apple said it expects between $89 billion and $93 billion in revenue for its fiscal first quarter ending in December, with a midpoint of $91 billion coming in below Wall Street expectations of $93 billion, according to IBES data from Refinitiv.

For the quarter ended in September, Apple brought in $62.9 billion in revenue and $2.91 per share in profits, beating expectations of $61.5 billion and $2.79, respectively.

While values have staged a recovery of sorts in recent days, Apple's share price remains largely unaffected and is 31% up on the year so far. Analysts and investors use the figures to calculate the average selling price of Apple's devices and gauge the health of the company. In the most recent quarter, Apple said sales for this category hit almost $10 billion, an all-time high and larger than most standalone businesses in the world. In September, the company introduced three new iPhones ー two of them priced at or above the original iPhone X, which dropped jaws with its $1,000 price tag when it debuted past year.

To be sure, the iPhone is still Apple's biggest revenue generator, making the company $37 billion in Q4 2018, or more than half of overall revenue.

Apple sold 46.8 million iPhones, 9.6 million iPads, and 5.2 million Macs in the final quarter of 2018.