Enlarge / Apple's global headquarters in Cupertino, California. (credit: Sam Hall/Bloomberg via Getty Images)

The last 24 hours have overflowed with stock market news, from the normal to the nutty , but based on Apple's performance in recent quarters, the earnings the Cupertino company reported today for its first quarter of 2021 were very much on the normal side. And by that, we mean big numbers yet again.

According to the report, Apple crossed the threshold for $100 billion in revenue in a single quarter for the first time, and the company posted double-digit sales increases for every single one of its defined product categories. Overall, sales were up 21 percent year-over-year, despite many consumers' struggles in the pandemic-stricken economy.

iPhone revenue was $65.6 billion, surpassing analysts' expected $59.8 billion, and beating the same quarter last year by 17 percent. This coincides with the introduction of the iPhone 12 lineup (iPhone 12, iPhone 12 mini, iPhone 12 Pro, and iPhone 12 Pro Max), which was the most substantial redesign and upgrade to iPhones since the iPhone X three years earlier.

Enlarge / Apple CEO Tim Cook looks on as the iPhone X goes on sale at an Apple Store on November 3, 2017 in Palo Alto, California. (credit: Justin Sullivan/Getty Images )

Apple's market capitalization hit $2 trillion on Wednesday, making Apple the first company outside Saudi Arabia to reach that milestone. Saudi Arabia's state-owned oil company, Saudi Aramco, was briefly valued at $2 trillion last December, but Apple surpassed its value last month.

The new milestone comes just two years after Apple first reached a market capitalization of $1 trillion . It's particularly remarkable because Apple market capitalization was below $1 trillion as recently as March, when fears of a coronavirus-induced recession were battering stocks across the board.

But while the coronavirus has created economic hardship for many companies and workers, it's been a boon to Apple and other big technology firms. Unable to spend cash on experiences like dining out or going on vacation, consumers who still have jobs have splurged on digital gadgets instead.