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

Over 73 million people watched the first debate on TV

Data: Nielsen; Chart: Andrew Witherspoon/Axios

More than 73.1 million people watched the first presidential debate on television on Tuesday night, according to Nielsen ratings.

Why it matters: While that's a sizable audience for any American TV program, it's down more than 13% from the record number of TV viewers who tuned in for the first debate of the 2016 election. The chaotic nature of the debate and the overall uncertainty around this year's election may have pushed some viewers away.

Senate passes bill funding government through December

Senate Majority Leader Mitch McConnel. Photo: Chip Somodevilla/Getty Images

The Senate on Tuesday passed legislation to fund the federal government through Dec. 11, by a vote of 84-10.

Where it stands: The legislation will avert a government shutdown before funding expires Wednesday night and before the Nov. 3 election. The House passed the same measure last week by a vote of 359-57 after House Democrats and the Trump administration agreed on the resolution.

  • Both sides agreed early in negotiations that the bill should be a "clean" continuing resolution — meaning each party would only make small changes to existing funding levels so the measure would pass through both chambers quickly, Axios' Alayna Treene reported last week. The bill now goes to President Trump for his signature.
Bryan Walsh, author of Future
2 hours ago - Technology

The age of engineering life begins

Illustration: Sarah Grillo/Axios

Synthetic biology startups raised some $3 billion through the first half of 2020, up from $1.9 billion for all of 2019, as the field brings the science of engineering to the art of life.

The big picture: Synthetic biologists are gradually learning how to program the code of life the way that computer experts have learned to program machines. If they can succeed — and if the public accepts their work — synthetic biology stands to fundamentally transform how we live.