Apple said today there are now one billion active namesake devices in the world including iPhones, iPads, Macs, the iPod touch, the Apple Watch and Apple TV.
Apple CEO Tim Cook made the announcement today during the company's first quarter earnings call where he also reported a record quarterly profit of $18.4 billion -- up from $18 billion from this time last year. Cook attributed Apple's "biggest quarter ever" to "all-time record sales of iPhone, Apple Watch and Apple TV" and the growth of Apple's services, which includes Apple Music and its App store.
While Cook and his team in Cupertino, California have plenty to celebrate, the results for the first fiscal quarter of 2016, which ended on Dec. 26, show iPhone sales are flattening. Apple reported sales of 74.8 million iPhones during the quarter -- up less than 1 percent from the same time one year ago. Cook pointed to weakening currencies worldwide as one of the obstacles the company was up against this quarter.
Daniel Ives, managing director at FBR Capital Markets, told ABC News that while Cook warned that the next quarter will be tough for Apple, he believes new product releases later this year will help Apple restore the tremendous growth it has reported in previous quarters.
"While near-term Apple is hitting some growth speed bumps we believe brighter days are ahead with iPhone 7 on the horizon," he said.