Apple  announced on Wednesday it has sold over 1 billion iPhones. The company’s CEO Tom Cook said the one billionth device was recently sold, during a meeting with employees in Cupertino, California.

“Last week we passed another major milestone when we sold the billionth iPhone. We never set out to make the most, but we’ve always set out to make the best products that make a difference. Thank you to everyone at Apple for helping change the world every day,” said Cook.

The company said it sold 40.4 million iPhones in the third quarter of this year, which is better than analyst projections, causing its shares to jump 7 percent on Tuesday.

“iPhone has become one of the most important, world-changing and successful products in history. It’s become more than a constant companion. iPhone is truly an essential part of our daily life and enables much of what we do throughout the day,” said Cook.

Autonomous Car Software

Not wanting to be left out of the race to develop the autonomous vehicle of the future, Apple has also made its intentions regarding self-driving vehicles known. Rather than focusing on building a self-driving vehicle, as a lot of other companies are doing, Apple wants to focus on building software for autonomous vehicles, according to a Bloomberg report.

In an initiative the company has dubbed “project Titan,” Apple wants to prioritize the development of an autonomous driving system. The company will still leave the plans to build its own version of a self-driving vehicle on a back burner, and will leave its options open should it decide to “partner or acquire an established car maker,” said the report.

Currently, Apple has Apple has three teams working on its car, a hardware team, a sensors group, and a software team, and is setting its sights on a 2020 release date.