Apple’s Staggering Numbers

AppleApple’s earnings report this week included a lot of staggering numbers. The company will soon be the first company ever to be valued by the market at one trillion dollars. (Amazon and Google are not far behind). Skeptics have questioned whether the company could continue to grow rapidly, if at all. As written here many times, the skeptics have underestimated the potential of Apple’s services business which includes iCloud storage, Apple Music, and the App Store. Services was just shy of $10 billion for the quarter, approaching the goal of a $50 billion a year business. Skeptics also said people would not pay $1,000 for an iPhone. Turns out people are more than willing to do so (helped by financing plans by Apple and carriers). During the quarter, Apple produced 19,120 iPhones every hour. That is 5.3 per second. Behind everything Apple does is an incredible customer support process. Whoever is in second place for support is not even close. I agree no business can grow straight up or forever, but I see no signs of things slowing down at Apple.

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