Several analysts pointed out that Apple needed to launch new products soon. Now, investors were also becoming concerned about the tech giant's status in the long term.

The latest product Apple launched since the iTunes, iPod, iPhone, and iPad was the iPad mini. The mini version of the iPad was launched last fall. Since then, there was no update of any of its major devices. Has Apple somehow lost its innovative edge?

"We are on track to have a very busy fall," CFO Peter Oppenheimer. He did not went on to state the details. Chief Executive Tim Cook also told analysts that something new this way comes. Cook was referring to a device "in new categories." However, as is typical of the CEO, "he played his cards close to the vest."

"It's pretty remarkable that they are selling as many phones as they are, given that it's not a new product," Michael Yoshikami of Destination Wealth remarked. Destination Wealth owned shares in Apple. "That's really the key for them; they've got to come up with a new product."