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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."

Go deeper

Neera Tanden withdraws nomination for Office of Management and Budget director

Neera Tanden testifying before the Senate Budget Committee in Washington, D.C., in February 2021. Photo: Anna Moneymaker/The New York Times/Bloomberg via Getty Images

Neera Tanden withdrew her name from nomination to lead the Office of Management and Budget after several senators voiced opposition and concern about her qualifications and past combative tweets, President Biden announced Tuesday.

Why it matters: Tanden’s decision to pull her nomination marks Biden's first setback in filling out his Cabinet with a thin Democratic majority in the Senate.

What's ahead for the newest female CEOs

Jane Fraser (L) and Rosalind Brewer. Photos: Jason Redmond/AFP via Getty Images; Rodrigo Capote/Bloomberg via Getty Images.

The number of women at the helm of America’s biggest companies pales in comparison to men, but is newly growing — and their tasks are huge.

What's going on: Jane Fraser took over at Citigroup this week, the first woman to ever lead a major U.S. bank. Rosalind Brewer will take the reins at Walgreens in the coming weeks (March 15) — a company that's been run by white men for more than a century.

3 hours ago - Health

Biden says U.S. will have enough vaccines for 300 million adults by end of May

President Biden. Photo: Anna Moneymaker-Pool/Getty Images

President Biden on Tuesday said that ramped-up coronavirus vaccine production will provide enough doses for 300 million Americans by the end May.

Why it matters: That's two months sooner than Biden's previous promise of enough vaccines for all American adults by the end of July.