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Solid iPhone Results for Apple

An iPhone unit sales record and a shift toward the higher-end 7 Plus models were the highlights of the tech giant's very good quarter.

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Brian Colello: Apple reported solid first-quarter results. The second-quarter forecast was a little light, but they're expecting some currency headwinds, so not too bad. Overall the earnings report was a positive.

The big highlight was iPhone sales as expected: 78 million units, breaking an all-time record. So they saw very little, if no effects of taking out the headphone jack, which was a bit of a worry going into the quarter, a couple of quarters ago.

Brian Colello does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.