Apple also provided guidance for its key fiscal-first quarter sales that came in at the low end of analysts' estimates. It expects revenue of $75.5 billion to $77.5 billion; analysts had expected sales of about $77.17 billion.
Ross Gerber of Gerber Kawasaki told CNBC he expects iPhone sales to lead to a strong first quarter.
"Apple's taking share from everybody and their technology, hardware and software is just so much better," he said.
Apple's cash pile also rose to about $206 billion in the fourth quarter. Gerber contended Apple reported a strong quarter but the stock may not have reacted because investors want to see Apple use its cash.
The Apple Watch also launched earlier this year, and the company has yet to disclose specific shipment numbers. Watch sales rose sequentially and beat the company's expectations, Cook said in a conference call Tuesday.
Cook also touted the growth of Apple Pay, the company's mobile payment system.
Apple shares have fallen about 8 percent since the day after its last quarterly results in July.
— CNBC's Josh Lipton contributed to this report.