Despite strong iPhone growth and hints that the Apple Watch is selling well, investors continue to wonder whether company’s popularity has peaked

To Wall Street, Apple is a company where the glass is constantly half-full. Its quarterly results on Tuesday night showed revenues up 33% and operating profits up 37% to $49bn (£31bn) and $14.1bn respectively.

However, there were disappointments for investors grown used to quarter after quarter of stellar figures. Unit sales of iPhones rose 35% to 47.5m in the three months ending June, about four times more than the broader smartphone market, but analysts had expected 50m or better.

Related: Apple financial report: Cook hints at strong watch sales after shares sink