Apple is an ad company now though
https://www.apple.com/newsroom/pdfs/fy2024-q4/FY24_Q4_Consol...
https://www.macrumors.com/2025/10/30/apple-4q-2025-earnings/
That’s 20% of their profit
Notably, this hasn't stopped Apple from introducing multiple anti-tracking technologies into Safari which prevents Google from collecting information from Safari users.
If I open up a new tab in safari it tells me that in the last 30 days Safari prevented 109 trackers from profiling me and that 55% of the sites I use implement trackers. It also tells me that the most blocked tracker is googletagmanager.com across 78 websites
Compared to the S&P 500 which has gained around 75% since then
Keeping in mind the context of the overall thread we're in, where the OP said this:
> Apple's commitment to privacy and security is really cool to see. It's also an amazing strategic play that they are uniquely in the position to take advantage of. Google and Meta can't commit to privacy because they need to show you ads, whereas Apple feels more like a hardware company to me.
And then further down somebody replies with this:
> Apple is an ad company now though
The implication was that, because Apple sells ads now, they must be tracking all of your personal data in the same way that Google does. And then that train of thought was further continued with the implication that, because Apple receives "20% of its profits from ads and Google" (lumping them both together), Apple ergo is receiving 20% of its profits through tracking all of your personal data. But it's not Apple tracking all of your personal data, it's Google tracking it, and they would track it whether they're the default search engine on iOS or not.
The distinction matters to me, and it's why I buy Apple products but not Google products.
Would Google or Meta go bankrupt if they stopped selling ads? Yes. Apple wouldn’t.
That's pretty bad. Maybe not "reliant on ad monopoly" bad, but pretty close.
Hardware sales aren't picking up the slack, and advertisement revenue is also following a growth trend. Apple's stock would indeed be cooked if they went balls-out against the government that guarantees them access to cheap hardware and software that has been declared illegally anti competitive by foreign sovereigns. Apple needs this.
Have you considered that people just like Apple's products and services?
They sell third party ads: companies unaffiliated with Apple pay Apple to advertise on Apple platforms.
They’re an ad company. Just because it’s currently a small slice of their total revenue doesn’t make it untrue.
Making some cash on ads doesn’t have to rely on targeted tracking. That only matters if ads are an existential part of your business, and without huge ad revenue growth, your company is dead.