Apple has announced the biggest quarterly profit ever made by a public company according to analysts, with a net profit of $18 billion (£11.8 billion) in the three months to December 27th.
It has been reported that "staggering" demand for its flagship product the iPhone was behind the rise, with the company selling 74.5 million of the devices in the quarter which was ahead of expectations, however iPad sales fell by 18% in 2014 compared to last year.

In a statement Buster Hein, who edits the “Cult of Mac” website told the BBC: "A lot of us were expecting good iPhone sales during the holidays, but I don't think anybody really thought Apple was going to blow past 70 million units sold.”

Apple’s newest product the Apple Watch is due to begin shipping in April.