Apple took a small step back, from No. 3 to No. 4, despite a 6% gain in annual sales, but it led the way in profits with more than $48 billion in net income. In short, the Apple juggernaut continues at tremendous scale and despite the overall saturation of smartphones, which make up the vast majority of the company’s sales and profits. In an unusual move, Apple introduced three new phones, the upgraded iPhone 8 and 8 Plus, as well as the redesigned iPhone X (pronounced “ten”), powered by facial-recognition technology. Services likes Apple Pay and Apple Music continued to rise too.
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