Ben Wood is the chief analyst at CCS Insight.
Apple's share price jumped on Thursday after the company posted a record quarterly profit. It beat expectations with sales for every product category bar the iPad.
Wood told CNBC that Apple is like a freight train at the moment.
There are now over one billion devices on the Apple network, according to Apple.
Wood said that he expects the number to reach 2 billion by the end of the year.
In an interview with CNBC's Julia Boorstin Thursday, Apple CEO Tim Cook acknowledged that inflationary pressures are affecting the company.
Cook said that they are seeing inflationary pressure because they try to price their products for the value that they deliver. There are no two ways about that.
Cook gave an example of shipping costs on the earnings call as he talked about how inflation is affecting Apple's business.
Cook said that Apple CFO Luca Maestri reviewed the operating expenses and the gross margin with him.
Cook said that he hoped the costs would be temporary.
Apple is not immune to supply chain issues, but it is doing better than others.
Cook doesn't say that supply chain problems will disappear completely, but he does say that they will decrease in the March quarter.
Mirabaud Equity Research's Neil Campling said in a statement that it's hard to know how Apple will do in the March quarter.
It's difficult to know the set up for the March quarter, Chinese New Year, and supply chain pricing dynamics because Apple doesn't give us explicit guidance.
Why? There is no qualification, lots of moving parts, cash- strapped consumers and China potentially imploding, which is equivalent to imploding compared to the official line out of Beijing.
The spelling of Julia Boorstin's name has been changed.
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