Apple’s fastest growing business

We are used to the hype surrounding new product launches from Apple. But Apple’s business is not just about hardware. As I mentioned yesterday, it is the new version of iOS7―an instant bonus for most users―that will steal the limelight this autumn. But Apple’s fastest growing business is not the hardware, not the software. iTunes combined with software services (the App Stores), and associated services represents the fastest growing part of a maturing business. With revenues of nearly $36bn, this non-hardware sector of the business is growing at a rate of 25% per annum and is bigger than most media concerns in the world. The Motley Fool believes this booming part of the business is potentially as important as the more visible parts.