Apple this week became the first US company to top US$800 billion valuation on Wall Street. A huge number and an impressive achievement.

This chart -- from our Smartphone Model Tracker (SMT) service -- shows why Apple's value is so high.

Apple iPhone 7 and 7 Plus massively dominate the smartphone market worldwide. They are by far the world's two best-selling models. The iPhone range accounts for well over half of all Apple revenues globally.



Exhibit 1: Global Smartphone Shipments by Top-Five MODELS in Q1 2017 (Millions of Units)