Apple Keeps Testing Growth Levers for This Boring Business
It's not nearly as exciting as iPhones and MacBooks, but Apple (NASDAQ: AAPL) is testing new ways to grow one of its more boring businesses: AppleCare. Like any other extended warranty program, AppleCare is essentially an insurance product. AppleCare has been quietly reaching records in recent quarters in part due to more consumers purchasing the added protection.
"Among our many services records, it was our best quarter ever for AppleCare," CFO Luca Maestri said in July. "We are seeing an increase in service contract attach rates and are expanding distribution of AppleCare through our partners." Maestri repeated that same statement nearly verbatim in October.
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Source Fool.com
