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Then came the pandemic. With millions of people stuck at home and working remotely, demand for iPhones, iPads, and Macs exploded. Since then, Apple’s value has increased by $1 trillion in about one year’s time. Over one billion iPhones are currently active globally today, in addition to more than 650 million other active Apple products are currently available. The company continues to steadily grow. On average, consumers upgrade their iPhone every three years — therefore when customers upgrade their phones, apple manufactures revenue not only through the selling of iPhones, but also through subsequent uses of Apple’s app store (iPhone Apps), music purchases, cloud services, etc.