Apple earnings show growing immunity to smartphone's sales slowdown

The numbers show that Cook's strategy of selling a growing array of services through a The numbers show that Cook's strategy of selling a growing base of more than 1.3 billion Apple devices is working

Apple Inc.’s results confirmed that, while the days of double-digit smartphone industry growth are over, Chief Executive Officer Tim Cook has a plan to withstand the slowdown.

The shares gained in late trading Tuesday after the company reported iPhone sales in line with analysts’ expectations, gave a bullish revenue forecast and highlighted a surging services business. A new $100 billion stock repurchase plan and higher dividend also helped.

The numbers show that Cook’s strategy of selling a growing array of services through a base of more than 1.3 billion Apple devices is working. The smartphone sector saw shipments fall 2 per cent