Apple's iPhone 13 leads to company's largest revenue and profit in history, despite parts shortages

From CNET: Apple's iPhone marked its 15th year on the market with its strongest sales ever, helping push the tech giant's sales and profits to all-time highs despite the continued spread of the coronavirus pandemic and supply chain constraints.

The demand for Apple's smartphone, in a line ranging from the $699 iPhone 13 Mini to the $1,099 iPhone 13 Pro Max, was so high during the three months ending in December, that sales rose more than 9%, to $71.6 billion. That was more than half the company's overall revenue, which itself rose to $123.94 billion, up double digits from last year.

Apple CEO Tim Cook noted that the iPhone held top market-share spots around the world, including in the US and Australia, where it was among the top five, China, where it was among the top four, and the UK, where it nabbed two of the top three slots.

"We knew that we had the beginnings of something fundamentally transformative," Cook said in a conference call with analysts, remarking on the iPhone's 2007 launch. "None of us could have predicted the incredible and meaningful impact it would have on all of our lives."

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