Apple Generated $23 Billion of Q1 2024 Revenue From Something Other Than Hardware Devices. Does That Make This Top Warren Buffett Stock a No-Brainer Buy?
With a market cap of $2.6 trillion, (NASDAQ: AAPL) is the world's second-most-valuable company. It has gotten to this point by selling some of the most popular consumer electronics products in the world. This success has resulted in huge gains for shareholders over the years.
To be clear, this is still an enterprise built on hardware sales. In the latest fiscal quarter (Q1 2024 ended Dec. 30, 2023), devices generated $96 billion in revenue, accounting for 81% of the total.
But Apple produced $23 billion in sales from something else entirely during the three-month period. Is this budding segment enough of a reason to consider buying this top Warren Buffett stock?
Source Fool.com