Amidst all the GameStop drama on the stock market this week, Apple quietly posted its biggest ever quarter — reporting that they made $111bn of revenue in the 3-month period ending on December 26th, 2020.
The Services business, which includes Apple Music, the App Store, Apple Pay, Apple TV, iCloud and more, was a bright spot for Apple, growing 24% year-on-year, but it was actually sales in Greater China, which jumped 57%, that really helped Apple's revenue get over the 12-figure mark.
Great expectations
Perhaps counterintuitively Apple shares fell 2% on the news — a reminder of just how high investor expectations are for tech companies that have seen their share prices soar during the pandemic.
