Apple now has nearly 800 million iTunes accounts.
CEO Time Cook described the number as 'staggering' during the company's conference call to discuss its March quarter financial results.
According to CNET, last year in June the company announced it has 575 million accounts.
Cook said Apple now have an almost 800 million iTunes accounts, most of these with credit cards, which is a staggering number.
According to the report, despite the sharp uptick in iTunes accounts, iTunes sales did show signs of deceleration.
In after-hours trading on Wednesday, Apple's stock soared by more than 8 percent.
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