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MarketWatch First Take: iPhone SE, iPad Pro throw new wrinkle into Apple finances

Apple Inc.’s latest iPhone and iPad seem to have enjoyed a strong launch, but the results were a big change in one important but slightly esoteric measure.

Apple AAPL, -0.69%reported slightly better-than-expected results for its fiscal third quarter Tuesday, but the results included a decline in the average selling prices for iPhones. The change comes after Apple revealed its first slowdown in iPhone sales last quarter, a pattern that continued Tuesday, which fuels investor fears that the company’s biggest revenue generator has peaked.

Apple said Tuesday its average selling price was $595 for the iPhone in the quarter, which was below Wall Street’s consensus estimate of $612, according to FactSet, and down from nearly $700 just two quarters ago.

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