CNBC’s Josh Lipton reports on Tim Cook’s comments on Apple’s Q1 earnings announcement.

Apple reported revenue and profit significantly higher than what Wall Street analysts expected and spiked as much as 3% before settling down up around 1% in after-hours trading.

Apple’s revenue was up 9% to $91.8 billion, which beat its own guidance. That’s a significant change from the same quarter last year when it had to revise its revenue guidance down mid-quarter based on weakness in…