How Does JPMorgan Chase Make Money?

Few companies make more money than JPMorgan Chase (NYSE: JPM). In fact, only one does: Apple (NASDAQ: AAPL). In the latest quarter, the nation's biggest bank by assets earned $6.7 billion, 13 times more than the average company on the S&P 500.

But unlike Apple, which has a straightforward business model selling computers, tablets, and, most importantly, smartphones, JPMorgan Chase's business is more of an enigma. The reason JPMorgan Chase seems so much more complicated than, say, Apple, is that it's a universal bank, as are Bank of America (NYSE: BAC) and Citigroup (NYSE: C). Banks like these have both commercial and investment banking operations.

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Source: Fool.com