What's going on?

Talk about a eureka moment: Apple announced much better-than-expected results late on Wednesday, raking in over $100 billion of quarterly revenue for the first time ever.

What does this mean?

Apple�s impressive update was mostly down to iPhone sales that surged past analysts� expectations � even though the latest models launched a month later than planned. Turns out that it might actually have worked in Apple�s favor: the delay gave customers � especially Chinese customers, whose shopping patterns are getting back to normal � more time to save up for an upgrade.


Revenue from Apple�s more profitable �services� segment beat forecasts too, and the tech giant�s hoping that subscription income � from the likes of Apple Music, the App Store, and TV+ � will boost its profit margin. But investors might have to estimate the impact for themselves: Apple refused to make an earnings forecast yet again.

Why should I care?

For markets: There are always naysayers.

Investors are split: the bulls might argue Apple�s strong iPhone and services sales prove its strategy is working, while the bears might flag that demand for newer, more expensive iPhones is sinking � which explains why the company�s focus has recently shifted to cheaper models. And as for services, those same skeptics might point out that it�s a gambit Apple�s been playing for a decade without much to show for it�

The bigger picture: Big Tech�s winning everywhere you look.

It�s not just Apple hitting the high notes: Facebook announced better-than-expected quarterly results late on Wednesday too, mainly because the company reported more monthly active users than expected. And given that users� attention is being sold to advertisers at higher and higher prices, that�s the key figure investors use to gauge how the social media titan�s doing.