After a particularly impressive fiscal quarter, Apple has become the first company in the world worth over $700 billion, according to a Business Insider article by Myles Udland. Its shares are also at an all-time high, closing at $122.02 on Tuesday.
Thanks largely to the very strong demand for Apple’s latest iPhones, the company raked in $18 billion in profit this past quarter, having sold 74 million iPhones. Included in those offerings is the iPhone 6 Plus, Apple’s first smartphone to adopt the type of large-sized screen pioneered by rival Samsung. That company, meanwhile has been struggling to maintain market share as Apple and even smaller rivals pick away at it; last quarter Samsung was knocked to second place by Apple on its home turf in South Korea.
Apple’s sales have been helped by the broader ecosystem it has been creating. The company has been pushing hard for mainstream adoption of its Apple Pay mCommerce platform, which, of course, can only be accessed on Apple devices, secured as they are with the TouchID biometric security system. And with the Apple Watch set to come out in April, we’ll have another exciting device propping up the Apple ecosystem.