Comment by benoau

You're not wrong that they collect a ton of rent off AI apps, rumours a few weeks back claimed $900m in fees last year with 75% of that just from OpenAI.

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...