~25% of Apple's revenue came from services in FY25 (and 50% from iPhone, ~25% from other hardware). They made $415B in that year, so ~$100B from services alone!
But services revenue is:
- their 36% share of Google Ads for being default search engine, about $21 billion/year of pure profit
- their IAP fees, court testimony reveals 75% profit margin
- their first-party subscriptions, there's an antitrust about iCloud that alleges 52% of iPhone users are on paid plans and that the profit margins are 80-ish percent!
https://9to5mac.com/2026/03/19/report-apple-made-roughly-900...