Apple Is A Device Company, Not A Services Company
Apple (AAPL) is a device company. Apple bulls began positioning AAPL as a Services company several years ago as device sales slowed. There are two primary reasons why Apple is a device company.
First, AAPL generates approximately 75% of Revenue from device sales (iPhone, Mac, iPad, wearables and home tech). That’s the end of the argument. However, if one wishes to go further…