Investors were startled by comments from Federal Reserve Chair Jerome Powell, which suggested that the powerful central bank could pull back on stimulus measures sooner than it forecasted.
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, in turn, all fell more than 1.5% on the day.
The iPhone maker produced a staggering $95 billion in net income and $93 billion in free cash flow over the past 12 months.
When combined with its highly regarded chip development efforts for its iPhones, Macs, and iPads, Apple’s bold new bets suggest that technological innovation is alive and well in this now $2.7 trillion behemoth.