Apple is selling refurbished iPhone 8 and 8 Plus starting at $499

The iPhone 5 was one of the best iPhones Apple ever built

The iPhone 5 was one of the best iPhones Apple ever built

Analysts and investors use the figures to calculate the average selling price of Apple's devices and gauge the health of the company.

"We're thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our two billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple's history", said Chief Executive Tim Cook.

Subscriptions to Apple services, meanwhile, were up 50 per cent.

Michael Hewson, chief analyst at CMC Markets, said the decision to withhold sales volumes suggested the company feels the market may have hit "peak iPhone".

The Cupertino, California-based company on Thursday said that it will stop reporting unit sales data for its iPhone, iPad and Mac computer products, the latter of which it has given out since 1998.

In August, the tech giant became the first $1 trillion publicly traded US business, a milestone reached after it boosted revenue on higher-priced models such as the iPhone X. Yet just three months later, the company spooked investors by announcing it wouldn't disclose the closely watched iPhone sales figure. Sales of the iPad were down 6% year-on-year while sales of Macs were down by 2%.

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Apple shares were selling off in early trading Friday as Wall Street reacted to the tech giant's weaker-than-expected holiday sales guidance and an announcement that it would no longer report the number of iPhone it sold on its quarterly earnings reports.

Apple sold 46.9m iPhones in the quarter, generating sales of $37.2bn, but eyebrows have been raised by escalating price tags which are stretching the wallets of even the most devoted Apple fans.

"This is a little bit like if you go to the market and you push your cart up to the cashier and she says or he says, 'How many units do you have in there?'" Cook said. The most notable message came during the earnings call where Cook revealed that it is looking to set up retail stores and expand local manufacturing in India. Notably, iPhone revenue jumped by 29% year over year, a fact which is obviously attributable to consumers picking up pricier iPhone models. Meanwhile, Apple's net income was $14.12 billion, nearly 32% up from Q4 of the financial 2017, a significant jump, considering Apple was already one of the most profitable companies in the world.

Revenue for the period climbed 20 percent from previous year to $62.9 billion. Services revenue reached an all-time high of United States dollars 10 billion.

"Apple is a complex company with lot of moving parts", said analyst Ivan Fienseth from Tigress "I think they need to give more transparency to their shareholders and not less".

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