Apple’s dream of becoming a $1 trillion company will have to wait — at least for a little while.

But while iPhone sales this year were about flat (down about 1% to be exact), revenue from the iPhone rose 13% year-over-year. That means Apple is finding ways to get more revenue out of the same number of units, so it may indeed be finding demand for higher-priced phones amid the usual consumer appetite for new iPhones. That higher average selling price means that Apple may have indeed succeeded in unlocking a new tier of consumer demand for higher-priced products, and its three-pronged approach may end up paying off in the end — though it still has to figure out how to ignite that massive upgrade cycle among the rest of its consumer base.

Despite the release of the iPhone X, which was accompanied by a wave of positive reviews and seen as Apple’s interpretation of what a next-generation smartphone looks like, Apple wasn’t able to create the so-called “supercycle” that would prompt a massive wave of new iPhone upgrades — leading to a bit of a collective shrug from Wall Street as everything else about hit on target. Despite looking to unlock a new, higher-priced tier to tap potential demand for early-adopters, Apple wasn’t able to see the kind of massive wave that a new size of phones brought. The stock didn’t really go anywhere following the report, which looked good on the financial front but not as spectacular on the unit sales front.

Here’s the scorecard:

• Revenue: $88.3 billion, compared to $87.1 billion analyst estimates.
• Active install base: 1.3 billion devicea
• Earnings: $3.89 per share, compared to Wall Street’s expectations of $3.83 per share.
• iPhone sales: 77.3 million, compared to 80.2 million iPhones sold expected by Wall Street.
• iPad sales: 13.2 million
• Mac sales: 5.1 million
• ASP: $796 (this is a big one)
• Services revenue: $8.5 billion, up 18% year-over-year
• Other products: $5.5 billion, up 36% year-over-year
• Guidance: between $60 billion and $62 billion, compared to $65.7 billion expected from Wall Street.

One thing to note here is that this quarter had 13 weeks, compared to 14 weeks reported in the same quarter a year ago. So the numbers will be a little wonky here, but at the same time, most of this was baked into expectations going in and still didn’t quite hit the crazy mark that Wall Street sought. Both that iPhone sales number and the guidance number came in lighter than expectations, keeping the company from contninuing that run that it went on at the back end of 2017.

Over the past several weeks, reports of weaker demand for the iPhone have come in from a number of different directions — and while it wasn’t clear exactly how it was going to play out until Apple delivered the numbers today, it did serve as somewhat of a signal that Apple wasn’t able to hit that crazy ramp with the iPhone X for any number of reasons. Apple’s guidance also fell a little on the weaker side, which means that the company might not be getting that huge lift from the iPhone X that Wall Street had initially sought.

Here’s what the revenue looks like:

Services continued to be a bit of a bright spot for Apple, once again rising around 18%. In addition to building a new iPhone to re-ignite its growth engine, services — which includes things like Apple Pay and Apple Music — is an increasingly important part of that puzzle. Consistent, methodical growth from its services business translates to just added-on incremental value for Apple, which can offset the peaks and troughs that come with iPhone update cycles. Apple CEO Tim Cook has said a few times that he expects Apple’s services business to be the size of a Fortune 100 company.

For Apple to get to that insane (largely symbolic) $1 trillion market cap, it had to show Wall Street it could deliver on multiple fronts: build that huge services revenue business, come out with new products like the AirPods (and theoretically HomePod) that were successful, and of course come out with a new blockbuster iPhone. Signs were pointing in the right direction on its last earnings call, which pushed the company to a $900 billion market cap, but the reality of fickle consumer demand is settling in as Apple continues to try to find a way to spark that huge upgrade cycle.

Those reports brought a massive run from Apple to a halt after it looked like it was primed to become a company with a $1 trillion market cap with a new generation of iPhones. The iPhone X had a staggeringly big price tag, but the bet that there would be a bracket of consumers that would pay extra for a newer phone was one that made sense in theory. So, that run to $1 trillion is probably on hold until Apple is able to really create that “super-cycle” that it wants.

For the quarter, Apple posted revenue of $88.3 billion and net quarterly profit of $20.1 billion, or $3.89 per diluted share, compared to revenue of $78.4 billion and net quarterly profit of $17.9 billion, or $3.36 per diluted share, in the year-ago quarter. The revenue and earnings per share numbers were company records for any quarter in the company’s history.

Gross margin for the quarter was 38.4 percent, compared to 38.5 percent in the year-ago quarter, with international sales accounting for 65 percent of revenue. Apple also declared an upcoming dividend payment of $0.63 per share, payable February 15 to shareholders of record as of February 12.

For the quarter, Apple sold 77.3 million iPhones, compared to 78.3 million in the year-ago quarter. iPad sales were up slightly to 13.2 million, up from 13.1 million a year ago, and Mac sales slipped to 5.1 million from 5.4 million.

“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.”

Apple’s guidance for the second quarter of fiscal 2018 includes expected revenue of $60-62 billion and gross margin between 38 and 38.5 percent.

Apple will provide live streaming of its fiscal Q1 2018 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference call starts at 2:00 PM Pacific – No need to refresh

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If and when your crypto investments go back up feel free to spend about $100,000 on one of these new creations from the watchmakers at MB&F and noted horologist Stepan Sarpaneva. The watch, called the MoonMachine 2, has a “heads-up” time display on the back end of the case where you see the hours and minutes in bold numerals along with a Sarpaneva-style moonphase display that peeks up and around the bottom of the case.

The case is covered in sapphire prisms and the display itself features a unique magnification system to increase the size of the dials by 20%.

“There are three instances of the immediately recognisable Sarpaneva moon in MoonMachine 2, its piercing eyes and pointed features based on Stepan Sarpaneva’s own face. Two of the Sarpaneva moons are mounted on the moon disc, taking it in turns to cycle under a Korona ring — another Sarpaneva design hallmark — to indicate the phase of the moon,” write MB&F.

Why should you care about a high-end piece like this? It is, in short, the last of the dying art of haute horologie and MB&F is keeping a number of near-dead technologies alive in this piece including the automatic movement, the moon phase itself, and the unique time-telling method using disks. While it’s obvious that a piece like this is pretty frivolous, especially at over $80,000 for the Titanium model, it’s nice to know someone cares about the night sky enough to bring us a little leering moon for our keyboard-weary wrists.

The watch is available now if your ETH holdings are up.

An all-Tesla stock car-style racing series just got one step closer to reality: The proposed series was approved by the same industry association that manages Formula One and other major international motorsport competitions, The Verge reports.

This means more work ahead, however, including securing the requisite amount of teams and funding, as well as dealing with Tesla itself. While Verge says Tesla is aware of the effort and there has been communication back and forth, the automaker isn’t endorsing it officially as yet, and safety systems built into the Tesla’s used still preset batteries from getting too hot, which can limit race-specific performance.

But while there’s still work to be done, the idea clearly has a lot of proponents and likely big support from the Tesla enthusiast and owner community.

YouTube Go, a mobile version of YouTube built for emerging markets with features like offline viewing and nearby sharing, is today expanding to over 130 countries worldwide. This wider rollout will make YouTube Go available to a large number of people who want the ability to watch YouTube videos, even if they don’t have a good connection, or find themselves offline.

The list of new countries includes those in Central and South America, the Middle East, Africa, the Caribbean, Asia, and elsewhere.

The app was first introduced in September 2016, before launching into beta last spring.

Like other apps designed for emerging markets, YouTube Go includes a suite of features that take in consideration the high costs of data, poor signal strength, and the prevalent use of SD cards on Android devices.

For starters, the app lets users control their playback experience by selecting lower quality streams when on slower connections, or they can opt to save videos for playback when they’re offline. This offline play feature allows users to download YouTube videos to their phone or an SD card. (You can also view a video preview before deciding to download.)

Another clever feature is YouTube Go’s sharing feature that allows you to show videos to friends nearby – another way YouTube Go works around devices’ that don’t have a reliable connection.

This feature first locates the friend’s phone using Bluetooth and BLE for discovery and establishing a connection, then uses Wi-Fi Hotspot (the feature on your phone) and Wi-Fi Direct for transfer. Explains YouTube, the app establishes a secure wireless channel between two phones using established wireless and encryption protocols. The receiver then downloads a unique decryption key from YouTube’s servers before the video can be played back in the YouTube app.

However, the company tell us it’s always experimenting with protocols and may choose to use different ones in the future to provide “the fastest, most reliable and secure connections to the broadest range of devices.”

In addition, the YouTube Go app’s home screen highlights videos in that are popular locally, and is presented in the users’ language.

YouTube Go’s first market was India, but its reach later expanded to 14 other countries last year, including Indonesia, Nigeria, Thailand, and others.

With today’s launch, the company says it made a few design tweaks based on these early users’ feedback.

Now, YouTube Go allows users to choose the option to download, stream or share videos in High Quality, in addition to basic and standard quality, for those times when a strong signal is available – like when connected to a good Wi-Fi network, for example.

It also made the “share nearby” feature easier to access and added the ability for users to share multiple videos at once.

The app improved its personalized recommendations, too. Now, users can pull down on the home screen for new recommendations, and will be alerted when their favorite channels add new videos.

YouTube Go is available in the Google Play Store here.