Core Insights - The article emphasizes the desire of investors to identify the next Apple, highlighting the importance of innovative products and a robust ecosystem in achieving success [1][2]. Revenue Sources - Apple generates approximately 51% of its total revenue from iPhone sales, excluding aftermarket and digital revenue from the App Store [4]. - The second largest revenue source is the Services segment, which includes App Store purchases, content subscriptions (Apple TV, Apple Music), payments from the Apple credit card, Apple Care, and advertising revenue [5]. - The remaining 25% of revenue comes from other hardware products such as iPads, iMacs, and headphones [5]. Ecosystem Importance - The article argues that while the iPhone is crucial for Apple's revenue, the company's success is also attributed to its interoperable ecosystem, which encourages the use of multiple products [6][7]. - Creating an ecosystem where one product enhances the use of another is essential for driving and retaining customer adoption [7].