Jim Cramer: How Tim Cook Reinvented Apple

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Apple released earnings after the bell Tuesday night.

The company beat expectations. 

Apple reported earnings of $4.99 per share, up 19.4% from last year and ahead of expectations of $4.55 per share. Revenue rose 9% from last year to $91.8 billion, coming in ahead of the analyst consensus of an $88.4 billion tally.

iPhone revenues rose 7.6% to $55.96 billion, reversing a recent trend of declining growth after the launch of three new handsets -- the iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max -- in September of last year.

Services revenues were 16.9% higher from the same period last year at $12.72 billion, but came in short of expectations of $13 billion.

“We are thrilled to report Apple’s highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables,” said CEO Tim Cook. “During the holiday quarter, our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion."

Here's what Jim Cramer thinks about Apple's quarter. 

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