APPLE DOES IT AGAIN;
HO-HUM

The headlines earlier this week, variations on “Record Quarter for Apple,” have become so familiar that the casual reader tends to miss the stupendousness of the achievement. Here are some associated stats guaranteed to elicit a reaction:

• Apple now has $193.5 billion in cash.
• 61.2 million iPhones were sold during the quarter. That’s the second most ever, behind only the 74.5 million units sold in the December quarter, historically the peak period for iPhone sales.
• About 20% of the iPhone customer base has upgraded to the iPhone 6/6 Plus, according to Tim Cook, who added that Apple has seen a higher rate of switchers from other platforms than in previous iPhone cycles.
• Revenue was $58 billion, up 27% year over year.
• Net income for the quarter totaled $13.6 billion.