On Wednesday, tech giant Apple released their results of the latest quarter. The company set a new record by hitting an all-time high, recording a revenue of $111.4 billion. In case you are wondering what led to Apple’s best quarter, it’s the iPhone 12.
The sales of the iPhone 12 alone contributed to $65.6 billion if we compare it to last year’s earnings. This is the first time Apple has crossed the $100 billion mark in a quarter.
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“It is not far from any of our minds that this result caps off the most challenging year any of us can remember. It is an understatement to say that the challenges it posed to Apple as a business paled in comparison to the challenges it posed to Apple as a community of individuals, to employees, to their families, and to the communities we live in and love to call home. These results show the central role that our products played in helping our users respond to these challenges.”
– Apple CEO Tim Cook
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According to Apple CFO Luca Maestri, the company experienced double-digit growth in almost every product category. That being said, Apple doesn’t release individual iPhone sales figures. However, it’s quite clear that the iPhone 12 is the major factor leading to Apple’s biggest quarterly earnings.
Narender Kumar
Always on the quest to learn and share the knowledge. Big fan of books (but not the self help ones) specially fiction. A grammar Nazi who loves to eat, cook, travel and watching thunderstorms.