>> Shares of the world's most valuable tech company reaching an all time high after Apple reported better than expected iPhone sales in the spring and a forecast for the summer that eased some investor worries over a possible delay for the hotly anticipated 10th anniversary edition iPhone. Reuters Apple correspondent Stephen Nellis explains.
>> This earnings report is a very good sign for the company, inasmuch as the revenue forecast for the next quarter came in in line with people's expectations. Now this means that the big delay that we've been hearing about at least won't be any worse than was already expected.
The issue here is that the next quarter for Apple typically includes opening weekend sales from the next phone's launch. So everybody was looking very carefully at the forecast from this quarter to see how strong it came out to try to figure out whether there was going to be a serious delay or not.
>> As for the last quarter, Apple beating on every major top line metric, proving that it's still the dominant phone maker.>> Very strong quarter for Apple. The company beat on revenue. It beat on profits. The main drivers were very strong iPad business. China not doing nearly as poorly as it has in the past.
Mainland China was actually flat, and then sold quite a few iPhones, more than expected.>> Apple is widely rumored to adopt higher resolution OLED displays for its latest iPhone, along with better touchscreen technology and wireless charging, which could come with a price tag of more than $1,000.