In this file photo taken on September 10, 2019, Apple CEO Tim Cook speaks at a product launch event at Apple's headquarters in Cupertino, California. is on the verge of becoming the first $2 trillion US company following a gravity-defying surge that has highlighted the value of its iPhone ecosystem during the global pandemic.
"Apple has been wildly successful in building out its platforms, mitigating the fact that iPhone sales had peaked, by building products that surround it and services that enhance it," saidIn the past quarter ending in June, Apple reported profits rose eight percent to $11.2 billion and revenues jumped 11 percent to $59.7 billion.
Services made up more than one-fifth of Apple revenue as it expanded its offerings in music, digital payments, streaming television and boosted income from its App Store.