Apple Is Synonymous With iPhones, But Its Largest Gross Margin Comes From Somewhere Else Entirely
With its highly anticipated introduction in 2007, the iPhone was the revolutionary hardware device that catapulted (NASDAQ: AAPL) to global fame. This smartphone, which is arguably one of the most successful products in history for any business, made the tech giant a global cultural icon.
Even today, the iPhone is Apple's biggest moneymaker, generating $69.7 billion of revenue in the latest fiscal quarter (Q1 2024 ended Dec. 30), or 58% of the company's total. There's no question that the business is still well-known for this product, as well as other devices like the MacBook, iPad, AirPods, and Watch.
However, the sale of hardware pales in comparison to another burgeoning segment when it comes to profitability.
Source Fool.com