What Were the Surprises From Apple's Earnings Report?

The transcript discusses Apple's financial performance, highlighting the success of the iPhone 7 Plus, which exceeded expectations in revenue and profitability. Luca Maestri emphasizes the importance of Apple's services, which are growing rapidly and are as large as a Fortune 100 company. Despite a slight miss in revenue forecasts due to currency headwinds, Apple remains optimistic. The discussion also covers emerging markets, with significant growth in Brazil and Turkey. The tech industry is shifting towards cost discipline, with Apple focusing on strategic growth areas.

What was the reason for the revenue miss in the second quarter forecast?

How did the strength of the dollar impact Apple's revenue?

What opportunities does Apple see in the automotive sector?