Apple
Numbers
What the show said, with receipts
Every figure the hosts put on the record for Apple, with its source and the date it was captured. The audited statements from the company's own filings are under Financials.
Freshness
0
Current (≤6 mo)
0
Recent (≤18 mo)
5
Older
Freshness is measured from each figure’s capture date, not from the episode date. An older figure is not wrong; it is a figure that has had time to move.
Reported figures
Market cap (2024 peak)
2 yr~$3.5T
first company to reach $3T; the most valuable public company for most of the decade
[Bloomberg 2024] · as of 2024-12
App Store commission (standard)
3 yr30%
15% for small developers post-2021; the toll the App Store charges every transaction on iOS
[Apple developer agreement + Acquired Apple Beats episode] · as of 2024
- Ben:The App Store is the most profitable business Apple has ever built per dollar of capital employed. The 30 percent cut is the moat. The moat is iOS itself.[Acquired Apple Beats, ch. The App Store moat]
Services revenue (FY2024)
2 yr~$96B
App Store, iCloud, Apple Music, Apple TV+, licensing; near-100% gross margin at the line level
[Apple FY2024 annual results] · as of 2024-09
Beats Electronics acquisition
12 yr$3B
largest acquisition Apple had made to that date (2014); bought the brand, the subscription (Beats Music), and the streaming catalogue rights
[Acquired Apple Beats episode] · as of 2014-05
- Ben:Three billion dollars is the biggest acquisition Apple has ever made. And what Apple is paying for is — it is not primarily the headphones. It is Beats Music, and the streaming music rights.[Acquired Apple Beats, ch. The deal]
iPhone units sold (FY2024)
2 yr~225M
still the majority of Apple revenue despite Services growth; iPhone is the platform everything else plugs into
[Apple FY2024 disclosures] · as of 2024-09