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Apple’s earnings beat has some analysts worried

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Apple's forecast-beating earnings Tuesday left some analysts worried it's selling too many of its lower cost iPhone SE model and needs to diversify its current portfolio of smartphones.

"Margins went down, they sold a lot more iPhones SE than they had expected to, and Apple needs to be very careful of that," Moor Insights & Strategy's Patrick Moorhead told CNBC Wednesday.

Despite beating estimates, earnings came to $1.42 per share on revenue of $42.4 billion, compared with $1.85 per share on $49.6 billion in revenue a year earlier.

Read more from CNBC.

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