Apple's forecast-beating earnings Tuesday left some analysts worried it's selling too many of its lower cost iPhone SE model and needs to diversify its current portfolio of smartphones.
"Margins went down, they sold a lot more iPhones SE than they had expected to, and Apple needs to be very careful of that," Moor Insights & Strategy's Patrick Moorhead told CNBC Wednesday.
The technology giant reported earnings of $1.42 per share on revenues of $42.4 billion. Despite beating estimates, that was down against the comparable year-ago figure of $1.85 per share on $49.61 billion in revenue. It shipped 40.4 million iPhones in the third fiscal quarter, also above estimates.