Apple on Wednesday reported a blowout second quarter for 2021, with revenue soaring a massive 54% to achieve a new quarterly record for the three months ending March. Apple's revenue for the quarter hit $89.6 billion, a major increase year-over-year.

As noted by CNBC, Apple experienced high double-digit growth in all of its product lines.

Revenue from the iPhone hit $47.94 billion in the quarter, an increase of 65.5% compared to 2020. Meanwhile, the Mac jumped 70.1% to $9.10 billion, and iPad sales soared by close to 79% to reach $7.80 billion. Apple's "Other Products" category, which includes its wearable devices like Apple Watch and AirPods, increased 24% to rake in $7.83 billion.

Every Product Category Boomed

Apple's increasingly important Services division also ramped up 26.7% to pull in $16.90 billion. Services includes everything from the App Store to Apple Music to iCloud subscriptions. It has become a larger focus for Apple as iPhone sales have, broadly, stopped increasing at the meteoric rate they once did each year, and Apple has focused on finding new ways to monetize users. (With that said, the current iPhone 12 generation is selling exceptionally well.)

While Tim Cook didn't provide a breakdown of Apple's services division, he noted that the company now has more than 660 million paid subscriptions across all of its services. This is up 40 million from last quarter.

In a statement, Luca Maestri, Apple's CFO, said that:

We are proud of our March quarter performance, which included revenue records in each of our geographic segments and strong double-digit growth in each of our product categories, driving our installed base of active devices to an all-time high. These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter. We are confident in our future and continue to make significant investments to support our long-term plans and enrich our customers' lives.

What Next Quarter Might Hold

Apple didn't provide any official guidance regarding what it expects to see in the quarter that ends in June. With a worldwide chip shortage potentially reducing supply of products, there's a chance things slow down a bit.

Then again, the iPhone 12 series is proving to be the gift that keeps on giving when it comes to sales. If Apple is able to stay ahead of the chip shortage, at least in terms of its top product line, it could be another quarterly win for the Cupertino giant.

Also worth noting is the fact that Apple's new iPad Pro and redesigned iMac---both of which have the potential to be monster hits for Apple---hadn't been announced yet by the end of Q2. Their impact will only start to be felt in Q3.

While logic dictates that, at some point, Apple plateaus, financial results like this make that scenario harder and harder to imagine.