Apple has posted its financial report for Q4 2018 quarter in which the company confirmed that it sold 46.9 million iPhones, 9.7 million iPads and 5.3 million Macs, helping it generate a record $62.9 billion revenue in the quarter.

Comparing the performance to last year, the company sold 46.7 million iPhones, 10.3 million iPads, 5.4 million Macs and made $52.58 billion revenue this time last year.

The much higher revenue generated in this quarter compared to last year’s is mainly thanks to higher ASP (Average Selling Price) value of the iPhone starting from iPhone X last year. Looks like Apple’s price hike strategy is paying off. People are ready to pay anything for the iPhone.

Apple CEO Tim Cook had this to say at the quarterly conference with the investors:

“We’re thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple’s history,” said Tim Cook, Apple’s CEO. “Over the past two months, we’ve delivered huge advancements for our customers through new versions of iPhone, Apple Watch, iPad and Mac as well as our four operating systems, and we enter the holiday season with our strongest lineup of products and services ever.”

Apple also provided financial guidance for its fiscal 2019 first quarter, which is as follows:

Revenue between $89 billion and $93 billion
Gross margin between 38 percent and 38.5 percent
Operating expenses between $8.7 billion and $8.8 billion
Other income/(expense) of $300 million
Tax rate of approximately 16.5 percent before discrete items

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