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Apple is known for the iPhone, but growth and profits are increasingly being made away from hardware sales.
Apple (AAPL -0.35%) has been built on hardware sales for decades and the iPhone is arguably the most successful single product of all time. However, the company's revenue and profit growth are no longer driven by its devices.
Instead, Apple's financials are driven more and more by hidden revenue sources and fees, which Travis Hoium digs into in this video.
*Stock prices used were end-of-day prices of March 23, 2024. The video was published on March 25, 2024.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Alphabet and Apple. The Motley Fool has positions in and recommends Alphabet and Apple. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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