Apple's shares extended a slump in late trading after the comments, falling as much as 7.4 per cent.
Apple's revenue from services increased 17% YoY to US$9.98 billion.
The company was criticized for its decision to no longer disclose iPhone related sales figures, implying that the company now believes that iPhone sales have peaked.
The firm said net profit climbed 32 percent to $14.13 billion on revenue that was up 20 percent to $62.9 billion with help from growing sales of digital content and services to users and other Apple gadgetry. During that quarter Apple sold 46.7 million iPhones, 10.3 million iPads, and 5.4 million Macs. While that represents a 14 percent increase in iPhone sales when compared to last quarter, it's about the same number of iPhones sold this time past year. Worldwide sales made up 61 per cent of the total number.
"Time for investors to adjust to the new disclosures", analysts from the brokerage said.
The world's most valuable company was a lot less valuable Friday, as a disappointing earnings report from Apple sent its shares tumbling and its total market value below $1 trillion. However, on a year-to-year basis, there was a six per cent decrease in the number of iPads sold, from 10.3 million in Q4, 2017. From 18.3% share in Q4 2016, Apple's share has declined to 13.2% in Q3 2018. "I hope that's the case here". Apple sold 46.9 million iPhones in the past quarter, slightly below analyst estimates. "By not reporting units, it effectively removes the discussion of rising prices from mainstream media stories".
Despite beating on quarterly earnings and revenue, Apple ($AAPL) disappointed investors on Thursday with weaker-than-anticipated guidance for the ever-important holiday quarter, and iPhone unit sales that just missed the mark, notching nearly zero growth from a year ago.
Both, the declining/stagnating sales and increasing ASP of iPhone, has been attracting enough criticism for Apple, especially at the time when the growth of the global smartphone market is largely driven by developing markets, likes of India.
The results closed out Apple's fiscal fourth quarter ending September 29 and set the stage for the crucial holiday period.
The coming quarter is expected to be offer no respite for Apple.
For its full fiscal 2018 ended in September, Apple reported revenue of $265.6 billion and profits of $11.91 per share, beating analyst estimates of $264 billion and $11.79 per share.