Wall Street's $165 billion golden goose: Apple's iPhone just might be the biggest cash cow on Wall Street. The iPhone alone is expected to rake in $165 billion in sales this fiscal year, or 62% of Apple's total projected revenue. To put that figure in context, the iPhone generates more revenue than 492 of the 500 companies in the S&P 500 did last year. Apple's iPhone is even bigger than the online stores of Amazon, which are projected to generate $125 billion of sales this year. Nearly 5,000 mutual funds own Apple shares valued at about $350 billion, according to data from Morningstar.

Source: CNN September 09, 2018 12:02 UTC