Apple has its best quarterly sales ever — its “double edge” in China helped

Party in Cupertino... home of the world’s most valuable company. Apple had its biggest quarter of sales ever in the three months leading up to Christmas. Despite supply challenges, the Fruit's sales last quarter jumped 11% to an expectation-beating $124B. Sales grew across every product line except iPads (womp). CEO Tim Cook reassured investors by saying supply issues were easing, and Apple shares spiked 5%.

• iPhone sales, which make up more than half of Apple's total, jumped 9% as people upgraded to new 5G models. FYI: It was the first full quarter of iPhone 13 sales.
• Macs saw the strongest sales growth of any Apple hardware, thanks to new $2K Pro models featuring faster Apple-made chips instead of Intel ones.
• Services revenue (think: App Store, Music, iCloud) jumped 25% and was Apple's most profitable unit, helping cancel out losses from supply issues and inflation.

Party in Beijing… Apple also just reclaimed its #1 smartphone-seller spot in China for the first time in six years. iPhones now account for nearly a quarter of phones in the key market. While total smartphone sales in China fell 9% on shortages and sluggish spending, iPhone sales grew 32% in the country of nearly 1.5B people. The iPhone 13, with its “relatively lower starting price” and 5G features, drove growth in “switchers” (like: former Android-ers).