While other products like the iPad, Mac and to a much lesser extent, iPods, still generate significant amounts of revenue for Apple, the company still gets the majority of its sales from the iPhone. Cook's confidence should resonate a chord with investors that perhaps some of the fears are overblown. "I think we're at the very front end of that and so I think we have lots of growth opportunities."

The results proved there may be a little turning of the tide on fears relating to Apple. Shareholders may finally start to respond by bidding up shares.

AAPL Chart AAPL data by YCharts

-- Written by Chris Ciaccia in New York

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