Yesterday Apple announced that it sold 77 million iPhones last quarter and generated a total of $78 billion in revenue.
CEO Tim Cook said “We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch.”
Consequently Apple’s stock rose. Today it’s up 5% to $128 per share, approaching the company’s all-time high of $132, which was in 2015. Apple’s market cap is now $672 billion.
Microsoft recently hit a 16-year high when it posted its latest quarterly earnings, too.