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 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…