Apple Inc.
Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple Vision Pro, Apple TV, Apple Watch, Beats products, and HomePod, as well as Apple branded and third-party accessories. It also provides AppleCare support and cloud services; and operates various platforms, including the App Store that allow customers to discover and download applications and digital content, such as books, music, video, games, and podcasts, as well as advertising services include third-party licensing arrangements and its own advertising platforms. In addition, the company offers various subscription-based services, such as Apple Arcade, a game subscription service; Apple Fitness+, a personalized fitness service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV, which offers exclusive original content and live sports; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property. The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets. It distributes third-party applications for its products through the App Store. The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers and resellers. The company was formerly known as Apple Computer, Inc. and changed its name to Apple Inc. in January 2007. Apple Inc. was founded in 1976 and is headquartered in Cupertino, California.
What does it do?
Apple makes the iPhone, Mac computers, iPad, Apple Watch, and AirPods — products used by over a billion people every day. If you've ever unlocked your phone with your face, paid for coffee with your watch, or listened to music through white earbuds, you've used Apple's ecosystem. The company designs its own hardware and software together, which is why Apple products tend to feel more polished than competitors. Beyond devices, Apple also runs the App Store, Apple Music, iCloud, and Apple TV+, meaning it earns money long after you've bought the physical product.
Apple is the largest company in the world by market value — worth over $4 trillion — making it a cornerstone of virtually every major stock index and investment fund. When Apple moves, the whole market often moves with it. Right now, investors are watching closely to see whether Apple can become a serious player in artificial intelligence, which could either reinvigorate iPhone upgrade cycles or risk falling behind rivals like Google and Samsung.
How does it make money?
Apple brought in $416 billion in revenue last year, up from $391 billion the year before — a 6.4% increase. The iPhone alone accounts for roughly half of that revenue, making each new product launch a major financial event. Services — the App Store, Apple Music, iCloud storage, Apple Pay, and subscriptions — are the fastest-growing part of the business and carry much higher profit margins than selling physical hardware. With $112 billion in net profit, Apple keeps about 27 cents of every dollar it earns, which is exceptional for a company of this scale.
Why do investors care?
The investment case for Apple rests on two pillars: its loyal, locked-in customer base and its growing services business. Once people are deep in the Apple ecosystem — iPhone, MacBook, AirPods, iCloud — switching to Android or Windows becomes genuinely painful, which gives Apple pricing power most companies can only dream of. The services segment is the growth engine: it scales without needing to build more factories, and each new subscriber adds nearly pure profit. The big question is whether Apple Intelligence, Apple's push into on-device AI, will be compelling enough to trigger a major wave of iPhone upgrades globally.
Deep Dive
MemberA full investor briefing on Apple Inc. — history, leadership, risks, and outlook.