Apple Inc. reported its fastest quarterly revenue growth in more than three years, easily topping Wall Street estimates, after demand picked up for the iPhone and products in China.

Apple has sold three billion iPhones since the product was launched in 2007, Apple CEO Tim Cook said Thursday during the company’s third-quarter earnings call. It took Apple nine years to sell the billionth iPhone,

Speaking to investors during Thursday's earnings call, Tim Cook didn't appear worried that advancements in AI could replace the iPhone.

Apple CEO Tim Cook didn't dismiss the possibility of a big AI acquisition down the line, but he certainly didn't say one was coming either. The tech giant has acquired seven smaller companies so far this year,