Apple Inc. (NASDAQ:AAPL) Gains 0.57% Monday's Pre-Session

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The average selling price of an iPhone hit a record high of $695 in the first quarter of fiscal 2017. On the other hand, Apple has begun to withhold certain royalty payments as part of its legal battle against chip supplier Qualcomm, which analysts at RBC suggest could provide a boost to its margin.

Q2 revenue: $53.079 billion, up 4.9% year-over-year. So there is a possibility that Apple will give you an option to engrave your name on your next iPhone.

The iPhone number was the biggest surprise in the results as sales usually soar once prices tend to ease after the Christmas season.

Many analysts have dubbed the next phone launch a "super cycle".

Apple CEO Tim Cook told CNBC that the company is seeing "a delay in purchasing behavior". We'll have to wait and see how he plans to execute this strategy.

The company also provided guidance for its third fiscal quarter. The company posted revenue of $52.9 billion with a quarterly net profit of $11 billion.

Apple's board of directors has approved an increase of $50bn to Apple's return of capital to shareholders and is extending the programme by four quarters. Ten analysts surveyed by Zacks expected $52.61 billion.

How many iPhones did Apple sell? The world's most valuable tech company is apparently having a pilot study of the dual-lenses for the selfie shooter, an upgrade from the current iPhone 7 and iPhone 7 Plus, which have single camera sensor. Shares have climbed 27 percent, outpacing most of the other technology superpowers, thanks to unshakable optimism about a sales rebound coming from the next versions of the iPhone.

They say Apple could expand video-related revenue by offering a multiple-system operator pay-TV service; building a subscription video-on-demand service; or acquiring Netflix or Disney. Wall Street expects sales to be up nearly 5%, but there are some analysts that are raising the possibility that this could be a relatively soft quarter even if Apple does grow on a year-on-year basis.

"Most investors are focused on [fiscal 2018], which means the next few reports should be less important than usual", UBS analyst Steven Milunovich noted.

That, for the record, is more than two Rupert Murdoch empires, three Teslas (the company that is, not the car) or all the U.S. motor companies added together. Shares were a couple of dollars lower in the after-hours session after revenues came in just short of Street estimates, while the company handily beat on the bottom line.

How much are iCloud and Apple Music contributing to total revenue? And the "other products" business, which includes the Apple Watch and Apple TV, jumped up a whopping 31 percent. In a regulatory filing, Warren Buffett's Berkshire Hathaway reported owning 57.4 million shares of Apple as of December 31, up from just from 15.2 million shares three months earlier.