iPhone X Photo: Apple

Apple CEO Tim Cook told investors Tuesday that the iPhone X was the best selling iPhone for each week during the last quarter.

Why it matters: There have been reports that Apple had slashed production in the wake of weak demand. Cook's remarks, made on a conference call with analysts, appear designed to ease those concerns.

Furthermore, Cook said that this is the first time that a high-end iPhone model has been the best-selling model since Apple added the larger-screen Plus model with the iPhone 6.

"The iPhone X is a beloved product," he said.

He compared the situation to when your team wins the Super Bowl but you might have wished they scored a few more points.

Wearables: Cook also said that revenue from wearables, including AirPods, Apple Watch and Beats headphones was up 50 percent from last year and is now the size of a Fortune 300 company. (Alcoa was No. 300 on last year's Fortune 500 list, with revenue of $9.3 billion)

China: Cook said he is optimistic that China and the U.S. will work out their differences on trade. "My own view is that China and the U.S. have this unavoidable mutuality where China only wins if US wins and the US only wins if China wins. And the world only wins if US and China win. There are lots of things that bind the countries together."

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Facebook is in the midst of the largest ad boycott in its history, with nearly 1,000 brands having stopped paid advertising in July because they feel Facebook hasn't done enough to remove hate speech from its namesake app and Instagram.

Axios Re:Cap spoke with the boycott's four main organizers, who met on Tuesday with CEO Mark Zuckerberg and other top Facebook executives, to learn why they organized the boycott, what they took from the meeting, and what comes next.

Boycott organizers slam Facebook following tense virtual meeting

Illustration: Sarah Grillo/Axios

Civil rights leaders blasted Facebook's top executives shortly after speaking with them on Tuesday, saying that the tech giant's leaders "failed to meet the moment" and were "more interested in having a dialogue than producing outcomes."

Why it matters: The likely fallout from the meeting is that the growing boycott of Facebook's advertising platform, which has reached nearly 1000 companies in less than a month, will extend longer than previously anticipated, deepening Facebook's public relations nightmare.

Steve Scalise PAC invites donors to fundraiser at Disney World

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