Apple (NASDAQ:AAPL) shares pulled back a few percentage points in after-hour trading on Tuesday following the company's first-quarter earnings release. Slowing revenue growth in Q1 and guidance for a 11% year-over-year decline in revenue for the company's current quarter has some investors concerned about Apple's growth potential. But, as I said ahead of the report, guidance for a year-over-year decline in Apple's second-quarter revenue wouldn't concern me.

Here are 15 facts from Apple's most recent report that have me confident in the stock as a long-term holding.

1. Apple's first fiscal quarter revenue, net income, and EPS rose to $75.9 billion, $18.4 billion, and $3.28, respectively, in Q1 -- a record for all three metrics. This represents year-over-year growth of 1.7%, 2.2%, and 7.2%, respectively.

2. The company's outsized year-over-year growth in EPS compared to net income was driven by its aggressive share repurchases between Q1 2015 and Q1 2016.

3. Apple returned over $9 billion to investors through share repurchases and dividends in Q1.

4. The company's gross profit margin for the quarter was 40.1% -- up from 37.9% in the year-ago quarter.

5. Apple sold 74.8 million iPhones during the quarter, up slightly from 74.5 million units in the year-ago quarter.

6. Revenue for the company's services segment, which includes sales from iTunes, Apple Music, the App Store, Licensing, Service Parts, iCloud, and Apple Pay, increased 26% compared to the year-ago quarter. This segment now represents about 8% of Apple's total revenue -- up from 6.4% of revenue in the year-ago quarter.

7. Apple said the gross profit margin for its services segment mirrors its robust company average gross profit margin of 40%.

8. Revenue from Apple's other products segment, which includes sales of the Apple TV, Apple Watch, Beats products, iPod, and other Apple-branded and third-party accessories, jumped 62% compared to the year-ago quarter. This segment now represents 5.7% of Apple's revenue -- up from 3.6% of revenue in the year-ago quarter.

9. Apple saw a greater rate of switchers from Android to iPhone in Q1 than ever before.

10. The company's balance sheet now boasts $216 billion in cash, cash equivalents, and marketable securities, or $39 per share.

11. Apple now has an installed base of 1 billion active devices, up 25%, year over year.

13. The average selling price for Apple's iPhone in the quarter was $691 -- up from $687 in the year-ago quarter. In constant currency, this figure would have been $740.

14. India revenue in Q1 was up 38% from the year-ago quarter, or 48% in constant currency.

15. iPhone unit sales for Q1 in China and India were up 19% and 76%, respectively, year over year.

With these 15 facts in mind, a year-over-year decline in a single quarter is just a symptom of a company that generates over 60% of its revenue from a single product. Don't forget: In the year-ago quarter, Apple's iPhone unit sales increased 40% -- and iPhone sales soared 55%. This very recent growth doesn't smell like a company in decline. For now, expectations for a single quarter of declining revenue is only a single data point among the many reasons Apple looks like an outstanding investment.

If Apple's revenue declines over several iPhone cycles, then I might rethink my thesis. But for now I'll remain an Apple bull.

Oh, and let's not forget that Apple trades at less than 11 times earnings.