iPhone 7 pulls Apple out of year-long sales slump

After a year of falling iPhone sales, Apple has rebounded with a record-breaking quarter thanks to the iPhone 7 and iPhone 7 Plus. 

In tech giant's Q1 2017 financials, Apple revealed it posted iPhone sales of 78.3 million, up 5% from the same quarter last year when it sold 74.8 million iPhones. Apple's Q1 iPhone sales are a 72% increase from the previous quarter. 

CEO Tim Cook said on the company's earnings call that while the iPhone 7 was the most popular model, the iPhone 7 Plus exceeded internal expectations and demand for the device was particularly strong.

Apple Watch win

Apple Watch also performed well in the quarter, with Cook saying the device too also broke all-time units and revenue records. 

However, Apple doesn't break out specific sales figures for the Apple Watch, so it's impossible to know exactly how it's doing.

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