It has long been debated whether Apple is more of a hardware company or more of a software company. In its quarterly reports it does not delineate between the two. Instead, it breaks its revenue into four big product categories and services. It cannot be pigeon-holed—it is a fusion of hardware, software, and services. Growth in services, in particular, has been a major focus of the company for the past decade and now accounts for almost a quarter of its revenue. In this episode we get into the details of Apple's latest quarterly report and its long term strategy.
Show Notes

Episode 78: How Does Amazon Make Money?
Episode 71: How Does Facebook Make Money?
Episode 4: iOS vs. Android
Apple Investor Reports
Apple announces $83B fiscal third quarter

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