AppleCEOTim Cookdoesn’t just oversee one of the world’s most valuable companies.
Apple has said much of the growth of those costs is related to paying staff.
An Apple spokesperson didn’t immediately respond to a request for comment.
Apple relies heavily on China for its business.
Many of the parts for itsiPhones,iPadsand Mac computers are made in China.
The company also largely relies on contract manufacturersin China like Foxconnto assemble its products.
Europe and the Americas are larger, at $89 billion and $153 billion, respectively.
For that reason, people have closely watched Apple’s relationship with the Chinese government over the years.
Apple hasreportedly reduced privacy protections for Chinese iPhone, iPad and Mac ownersto ensure it can continue operating there.
Apple has also toutedefforts to educate low-wage workers there, as wellas investmentslike in Chinese ride-hailing company Didi Chuxing.
