Apple just showed it’s still the world’s premium smart phone brand, as enthusiastic buyers drove iPhone sales 23 per cent higher to a blistering $US85 billion in the December quarter. The handbag has the brand power, but almost zero utility versus its cost, whereas the iPhone, has both, in spades. “So it was the best iPhone quarter in history in Greater China. That’s driven by the customer enthusiasm for the iPhone 17 line-up,” Mr Cook said on the company’s earnings call. Instead, Mr Cook has chosen to save its cashflows to be returned to shareholders in the form of dividends and buybacks.