On its quarterly earnings call, Apple said revenue growth in the current quarter would be between 14% and 17%, well above analysts' estimates.

Apple is expected to report roughly 20% growth in iPhone revenue as the popularity of the company's flagship device shows no sign of waning.

On Thursday, Apple announced record second-quarter earnings, with $111.2 billion in revenue, up 17 percent year-over year. The company said it grew double digits across every…

Cook is preparing to bow out after 15 years at the helm and hand over to John Ternus.

In fact, it was the best March quarter in company history, and Apple stock jumped 4% in after-hours trading.

Strong demand for new Macs lifted results, but chip shortages limited iPhone sales

Apple posted its "best March quarter ever", according to outgoing CEO Tim Cook, with a revenue of $111.2bn – up 17pc year-on-year.

Apple is expected to gain more ground after its earnings report showed the iPhone maker has largely weathered headwinds like rising memory costs, analysts said.

Apple's strong fiscal second-quarter results are likely to boost names like chipmakers Cirrus Logic and Qorvo, among others, according to Stifel and KeyBanc.

On its quarterly earnings call, Apple said revenue growth in the current quarter would be between 14% and 17%, well above analysts' estimates.