Apple's financials are at the mercy of the iPhone, the device that accounts for about two-thirds of revenue. Investors looking for a growth story may prefer to focus on the Apple Watch.
While the world's most valuable company reported its first quarterly sales drop since 2003 on Tuesday because of an inability to match last year's iPhone 6 success, the watch remains hot. Sales are tucked within the "other products" category, which also includes Apple TV and Beats products. Revenue for the entire group jumped 30 percent to $2.2 billion.
The stock plunged 7 percent in extended trading after Apple reported a 13 percent drop in fiscal second-quarter revenue and missed analysts' estimates.
In an earnings preview published last week, Sterne Agee CRT predicted the company sold 3.2 million watches in the quarter, bringing to 15.5 million the total number shipped since the device hit the market a year ago. By contrast, Apple sold 6.1 million iPhones in their first year on the market.