Apple reports most successful year ever as iPhone sales soar

Apple said it will have another record holiday. The Cupertino, California-based company said fiscal first-quarter sales will be $75.5 billion to $77.5 billion, topping last year’s record.

Revenue is being fueled by demand for the latest iPhones and sales in China. Analysts on average projected $77.1 billion, according to data compiled by Bloomberg.

Apple’s sheer size means growth is tougher to achieve. As iPad tablet sales decline and adoption of Apple Watch remains modest, the company’s expansion has become increasingly dependent on demand for new iPhones.

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