It's not because of the IT dominance per say, it this: "Apple's mound of cash and cash equivalents continued to scrape the cloudline this quarter, coming in at $268.9 billion in the company's quarterly earnings report." (https://www.cnbc.com/2017/11/02/how-much-cash-does-apple-hav...)

He is betting that in some shape or form, they will put that cash to work or issue a nice dividend.

He sees Apple as a services company now.