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Apple now has more GDP than Israel

Apple now has more GDP than Israel
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Apple just announced its quarterly earnings, and the numbers are unbelievable. Thanks to the popularity of the iPhone 6 and iPhone 6 Plus, the company posted a quarterly profit of $18 billion, which is the largest ever by a public company.

In fact, the $74.6 billion in revenue that Apple brought in last quarter is more than the quarterly GDP of Israel, Greece or Denmark.

This means its annual sales would beat the GDP of Israel ($264 billion) and rank it around 50th in the world's richest countries.

So, how did Apple do it? Huge sales for the iPhone 6 and iPhone 6 Plus had a lot to do with it. The company sold, wait for it, 34,000 of them every hour throughout the entire quarter, which comes out to 74.5 billion of them in all. But, it was not all good news for Apple, because one of its other headline products isn't doing quite as well.

Apple benefited from a boost in sales around the globe. Research firm Canalys issued a report that said the company actually sold more phones in China last quarter than any other smartphone maker.

Unlike iPhones, iPads did not sell too well. Apple sold 21.4 million iPads, which is down 22% from the same time last year.

I don't think the company is too worried, though. Apple also announced that the highly-anticipated Apple Watch will go on sale in April, and the gadget will likely be another hit for the company.

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Source: Apple
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