Apple Inc. (NASDAQ:AAPL) shares closed almost 7% higher on Friday following Q1 results, with EPS coming in at $2.10, beating the Street estimate of $1.89.

The company delivered record revenue of $123.9 billion (up 11% year-over-year), compared to the consensus estimate of $118.66 billion. Except for iPad, all other product categories' revenues were better than the expectations.

The analysts provided their outlook on the company following the results, noting that their previous view was that Apple may accelerate share gain in the current environment due to its better supply chain management and improving performance/price ratio relative to competing hardware products. Notably, the company is still gaining new customers at a high rate, with 6 out of 10 MacBook buyers in China, 1/2 iPad, and 2/3 Watch buyers new to devices. These new buyers will probably be going to purchase more Apple devices and contribute sustainable growth to the company’s active installed base.