It also makes a big profit bag from its beneficial services unit, iCloud subscriptions, Apple TV+, Apple Music, and other perks which is only available for iPhone, iPad and Mac users.
Chief investment officer of ACM Funds, Jordan Kahn, who also owns Apple in the ACM Dynamic Opportunity Fund spoke about Apple.
"All the hoopla around the iPhone 14 upgrade cycle should help Apple in the short-term," he said.
Apple anticipates for this next iPhone release with our estimates that 240 million of 1 billion iPhone users worldwide have not upgraded their phones in over 3.5 years
According to 2021s data, Apple's net income is US$94.68 billion with a revenue of US$365.82 billion.