Apple CEO Tim Cook Speaks About The Apple Watch
Apple CEO Tim Cook speaks about the Apple Watch during an Apple event at the Flint Center in Cupertino, California, September 9, 2014. Reuters/Stephen Lam

Apple wowed with its recent earnings report as it posted $18 billion in quarterly profit. Bloomberg calls this as one of the biggest in history of the industry. To further demonstrate the company's achievements, the company's recent earnings have been compared to Yemen's gross domestic product and Detroit's current debt.

Apple's Chief Executive Office, Tim Cook, also claimed that given Apple earning around $200 million per day, the company could afford the Dallas Cowboys. The franchise is around $3.2 billion according to Forbes. It can also afford the New York Yankees valued at $2.5 billion. These are just some of the estimates demonstrating the feat Apple achieved in terms of profit.

TIME explains Apple's performance more indicating that the company earned $18.04 billion in profit and $74.6 billion in revenue during the mentioned quarter. More importantly, Apple sold around 74.6 million iPhones in the past quarter. Particularly, Apple sold around 34,000 iPhones each hour, 24 hours a day for every day within the three-month quarter. This translates to 9 iPhones sold for each second.

The success of the iPhone 6 has got the market continually buzzing for any follow-ups. For instance, the iPhone 7 has been making headlines even at the start of the year - far from Apple's usual official release dates. Apple has not disclosed any details relating to the iPhone 7 but more concept photos have turned up. One concept came from Netherlands-based graphic designer Yasser Farahi. According to the concept, the iPhone will appear sleeker along with a thinner profile and bezel.

One of the most striking features of this iPhone concept is wireless charging. The technology has been reported for quite some time but has yet to be included in Apple's products. To see more of the concept photos, click here. Photos only show a concept of the iPhone. These may or may not translate to the actual product.

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