May 1, 2018

Tim Cook: iPhone X is no dud

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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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 1 p.m. ET: 1,237,420 — Total deaths: 67,260 — Total recoveries: 252,944 — Map.
U.S.: Total confirmed cases as of 1 p.m. ET: 312,762 — Total deaths: 9.132 — Total recoveries: 15,044 — Map.
Public health latest: CDC launches national trackers and recommends face coverings in public. Federal government will cover costs of COVID-19 treatment for uninsured. Surgeon general says this week will be "our Pearl Harbor, our 9/11 moment."
2020 latest: "We have no contingency plan," Trump said on the 2020 Republican National Convention. Biden says DNC may have to hold virtual convention.
States updates: New York Gov. Andrew Cuomo said the state "literally going day-to-day" with supplies.
Work update: Employees still going to work face temperature checks, distanced work stations, protective devices and mass absences.
What should I do? Pets, moving and personal health. Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
Other resources: CDC on how to avoid the virus, what to do if you get it.

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