Shares of Apple Inc touched the $200 mark for the first time and neared a $1 trillion valuation on Wednesday, after the company forecast blowout current-quarter sales and analysts said a September launch of new iPhones set the stage for sustained growth.
Cook said that Apple products have not so far been directly affected, and that the company is evaluating the latest Trump move now in a public comment phase.
"Each country can only prosper if the other does", he said. Cook said he's "optimistic" the countries will work out their differences.
Despite the beat, James Cordwell, an analyst from Atlantic Equities, said the high selling prices might cause investors some concern because "theres a limit to how much Apple can grow the iPhone franchise by pushing pricing". They expect even bigger, fancier iPhones heading into the holidays.
"Whether it grows 1 percent or 2 percent. or shrinks 1 or 2 percent, it's a great market because it's just huge", Cook said.
One area where the tech was more stagnant was iPhone sales, which were only up 1% on this time a year ago - but revenue was 20% higher thanks to the price of the flagship iPhone X.
That suggests that more consumers were buying its premium iPhone X, which starts at $999.
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It features a brighter screen that spans the device from edge to edge and boasts facial recognition technology. But while that model costs a few hundred dollars more than previous iPhones, Apple's base models - the iPhone 8 and 8 Plus - also had $50 and $30 price increases compared with their predecessors.
The services segment of Apple's business - which includes the App Store and Apple Music - continued to impress too, with revenue up 31% to 9.5 billion dollars (£7.2bn).
Whenever Apple releases a new software, beta or an upgrade, millions of developers and enthusiastic fans comb through the Operating System (OS) to get a sneak peek at the future of Apple hardware.
Apple Inc updated its latest share count on Wednesday, putting the magic stock price at $207.04 that would make the iPhone maker the first publicly listed US company valued at $1 trillion. But Apple saw revenue declines in both the iPad and Mac computers.
Its net cash stood at $129 billion, according to Moody's analyst Stephen Sohn.
Samsung came in first during the period with 20.4 percent global market share, followed by Huawei with 15.5 percent, and Apple with 11.8 percent, Strategy Analytics said.
Forward-looking guidance: Apple guided toward fourth-quarter revenue between $60 billion and $62 billion, edging out Wall Street predictions of $59.47 billion, according to StreetAccount. Analysts had expected Apple would report $52.4 billion of sales and $2.18 in EPS.