Apple (NASDAQ:AAPL) released its quarterly earnings yesterday after market close, and investors are celebrating today. Revenue came in at $35.3 billion with earnings per share of $7.47. The King of Cupertino also spent $16 billion on share buybacks. That's an encouraging sign for Apple investors, but Motley Fool analyst Matt Koppenheffer argues the real catalyst will come when Apple debuts the next big iDevice.

Erin Kennedy owns shares of Apple. Matt Koppenheffer owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.