Here's how Apple could grow even bigger - CNBC

Getty Images

Apple CEO Tim Cook speaks during an Apple special event at the Flint Center for the Performing Arts, Sept. 9, 2014, in Cupertino, Calif.

Holiday sales for both iPhone 6 models have also led to a "pretty fantastic quarter" for Apple, McCourt said. "One of the easiest things to check is the availability of the phones themselves," he said. "We're seeing spotty instances of lack of supply in the U.S."

Despite its tremendous size and sales, Apple still faces competition for cell-phone market share.

Read MoreInterest in Apple Watch 'minuscule' now: Munster

"Apple is much less powerful once you get into Continental Europe, Asia and Latin America largely due to price points" McCourt said. "In different geographies, we're seeing different competitors do very well."

Some of these overseas competitors include China's Xiaomi and Wiko, a French niche mobile phone brand." It's basically a French brand of Android," McCourt said.

McCourt added that, while Android is a "very fragmented ecosystem," it is still doing very well in some regions of the world. Competition for mobile market share within the U.S., however, is almost nonexistent for the tech giant, he said.

via apple - Google News http://news.google.com/news/url?sa=t&fd=R&ct2=us&usg=AFQjCNGcAWPFtjAITamVQ_AboBcHatQjWA&clid=c3a7d30bb8a4878e06b80cf16b898331&cid=52778696510889&ei=S6OhVPiEG6TImAL59IDIBQ&url=http://www.cnbc.com/id/102299196