Apple, the world's most valuable company, just reported more than $81bn of revenue for the three months ending in June — a 36% increase on the same quarter last year. That works out to roughly $900m a day or $10,000 every single second... for three months straight.
The iPhone matters less...
The iPhone is still the biggest driver for Apple, accounting for just under half of Apple's total sales, but that share has fallen in recent years as Apple has diversified into wearables (like the Apple Watch and AirPods) and Services.
That Services business is the bit that probably gets investors most excited these days as Services revenue (from things like Apple Music, the App Store, Apple Pay, Apple TV and more) tends to be a lot more predictable than selling $1,000+ phones. It also comes with tasty profit margins (70% gross margin)
....or maybe not
Of course Apple can only sell most of those services because there are (literally) like a billion people already walking around with iPhones. There are only so many people Apple can sell an iPhone to, but as long as they maintain that market share they can keep people in the "Apple ecosystem". How many people do you know who have to have a Mac or AirPods or an Apple Watch just because everything "works together"?
Apple is hoping that its next big product breakthrough might be the Apple Car — which has been in pretty secret development since 2014.
Elsewhere in tech land, pretty much every big tech company you can think of had a great 3 months. Microsoft, Tesla, Google etc.
