Apple just defied a bunch of theories about business
Geege Schuman stashed this in Apple
iPhones: Apple sold 74.5 million, +57% over last year’s same quarter. iPhone revenue was $51.2 billion, +57%. That’s enough iPhones for 1% of the world population, 9.4 iPhones for every second of the past quarter. I hope to see some day a documentary movie on the supply-chain heroics leading (parts manufacturing, assembly, transportation logistics) required to achieve such numbers. But I’m not holding my breath.
Overall company revenue grew 30% to $74.6 billion, with the iPhone representing a never-before 69% of total sales. This why some now call Apple the iPhone Company.
Profit (a.k.a. net income): $18 billion. This appears to be the highest quarterly profit ever achieved by a company.
That's insanely popular. Cash position now is what, $175 billion?
And only 15% of iPhone sales were from people upgrading their iPhones:
This is the most profitable company in the history of the Universe.
And to think that people were worried about Tim Cook as CEO.
Trillion dollar company watch!