Today, Apple announced a historic March Quarter with 27% revenue growth and 40% earnings per share growth Year over Year (YoY). Apple saw outstanding results for the iPhone with revenue growth up 55% YoY. Cook noted that they saw the highest rate of Android switchers than in any previous iPhone cycle. Another major point was that the iPhone enjoyed incredible growth in emerging markets with unit sales up 63% YoY. Today's report continues with rapid fire notes taken from today's Financial Conference Call for Q2 2015.

Key Points from Apple's Financial Conference Call

The following are comments made by Apple's CEO Tim Cook earlier this afternoon during Apple's fiscal Q2 Financial Conference call. The notes are not in perfect chronological order so as to retain themes that were discussed throughout the conference call.

• Apple sold 61.2 million iPhones and Cook believes that there's still significant growth ahead for the iPhone 6 and 6 Plus as there's still evidence of momentum which could be bad news for Samsung and LG who are trying to sell new smartphone models.
• In Greater China, the iPhone experienced 71% year-over-year growth with 16.8 Billion worth of sales with a 40% gross margin. Mac sales in China were up a whopping 31% and the App Store in China had grown 100%. Cook also noted that he was thrilled by the huge wave of app developers rising in China.
• Emerging Market growth for iPhones increased 63%
• Apple has made 27 Acquisitions in the last six months
• 4.6 million Macs were sold, mainly MacBooks which accounted for 10% year-over-year growth
• Apple's iPad sales were down again from 16.4 million last year to 12.6 million units this year with no news on anything new in the pipeline or reasoning for the drop in sales. Yet Cook did say that he believed that there was some cannibalization in play with the iPhone 6 Plus that still has to play out before iPad's sales will stabilize. Additionally, Cook challenged the idea that the iPad was in decline in the bigger picture by noting that first time iPad buyers were up 40% YoY and in China, first time iPad buyers were up 70% which aren't signs of a product decline. Lastly on this point, Cook proclaimed that growth would return to the iPad over time.
• Apple is seeing great momentum with Apple Pay. Discover announced today that it will be working with Apple Pay this fall and Best Buy announced that it will offer Apple Pay in-app now and later this year will offer Apple Pay in all of their stores in the U.S. stores (sorry Canada).
• A leading Health Care payment Network announced acceptance of Apple Pay for its clients which translates to over 50 major hospitals across the U.S. including Stanford Health Care and Aspen Valley that will accept Apple Pay later this year
• Apple recorded a record 5 Billion in Services revenue
• The App Store had it's best quarter ever with customers making a record number of purchases giving Apple revenue growth of 29% YoY
• For the first six months of Apple's fiscal 2015 calendar, they sold 135 million iPhones, 34 million iPads and 10 million Macs
• Momentum in health related solutions. Since releasing HealthKit, over 1,000 apps have been developed to transform how people track, manage and interact with their health. Tim Cook specifically mentioned Cedars-Sinai development that we covered on Sunday.
• Tim Cook took some time to talk about some of Apple's various clean energy programs including their new solar project in China
• Lastly, when talking about the success of "HBO Now" on Apple TV bypassing cable, Cook hinted that other major changes were coming to media which hints that Apple's TV bundling service may have some surprises this fall (or whenever Apple has the service ready).

On Apple Watch, Cook noted that there were 3500 apps available for the Apple Watch on launch day. When the iPad first debuted, Apple only had 1,000 apps available. This goes to demonstrate just how enthusiastic developers have been supporting Apple's latest iDevice.

Although analysts were pushing for more Apple Watch details, Cook made it clear that it was far too early to gauge the success of the Apple Watch because demand is far outstripping supply. Apple Watch margins are lower at this point in time being that it's a new category. They will increase as time goes on.

Apple is firing on all cylinders again, with the exception of the iPad which is still struggling to a certain degree. Yet in context, Apple's iPad is still the leading tablet. Microsoft had sales of less than a million units in calendar Q1 when you take $713 million revenue and divide it by an average selling price of $850. Apple sold 12.6 million units. So in the bigger picture, the iPad is still a smashing success when you compare it to the sales of their competitors.

In the end, Apple delivered another record quarter and with the iPhone 6 still experiencing momentum for the June Quarter and sales of the Apple Watch still to come, it's looking like a great quarter ahead. Apple's CFO provided guidance for next quarter of 46 to 48 billion vs. 37 Billion for the June quarter in 2014.

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