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 Apple Crosses $100 Billion In Quarterly Revenue For The First Time

Apple has reported tax gains in the first quarter of 2021, covering the last calendar quarter of 2020 and the holiday sales season. This means that this is the first time we have received a real indication of how the new iPhone 12 series are thriving in the consumer market. Apparently, they seem to be doing very well. Apple made over $100 billion in quarterly revenue for the first time in its history, bringing in $111.4 billion in total, with an earning per share of $1.68.

The recent iPhones went on sale a little later than usual, and the company had to close some of its retail stores due to the pandemic. But despite these obstacles, the iPhone business has done extraordinarily well, totaling over $65 billion. The all-time previous record of iPhone revenues in the last quarter was 61.58 billion dollars, which Apple reached in the first quarter of 2018.

In addition to an even flatter design, the iPhone 12 series is the first to integrate 5G mobile data, which some have rumored could result in a so-called "supercycle" upgrades from people who still use the iPhone a few years old at this point. The strong early inclination is certainly there; now, we will have to see if it holds up.

The Mac and iPad lines have seen increasing sales during the extended period of homework and distance education due to the pandemic. The momentum continued in the last quarter, with iPad sales up 41% - in a holiday quarter, and Mac sales up 21% year-on-year.

Their own M1 processors now support Apple’s MacBook Air, 13-inch MacBook Pro, and Mac mini. These three products have officially initiated a transition away from Intel chips, which will be extended to the company's other Mac products in the coming months. The popular iPad Air was also upgraded in the fall with a more advanced design, similar to the iPad Pro.

In an earnings call with investors, Chief Executive Officer Tim Cook said that Apple passed 1.65 billion active devices globally during the quarter. iPhones amount to over one billion of these devices.

Predictably, AirPods, AirPods Pro, and the Apple Watch were a holiday success for another year in a row, increasing the wearable division by 30% year-on-year.

At the end of 2020, Apple launched its latest paid subscription platform, Apple Fitness Plus, joining Apple Arcade, Apple Music, Apple TV Plus, and Apple News Plus as ways to make recurring profits from consumers who buy the Company’s hardware. Apple has continued to extend trial periods for some of these services – this includes Apple TV Plus - but the overall service unit continues to function very well and has increased by 24%.

Executive changes at the company continue as well. Earlier, Apple announced that SVP Dan Riccio, a long-time hardware engineer, will now focus on a new unspecified project; John Ternus - who publicly introduced well-received products such as the refurbished iPad Pro, Mac Pro, and Mac M1 - replaced him as Apple's chief hardware officer.

The company also continued its social initiatives, announcing a series of racial capital investments. Apple has also deleted the conservative social media app Parler from the App Store, citing inadequate moderation policies and violent calls from some app users.

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