What exactly is Apple?

Originally posted on Business 360:

Editor’s note: Victor Basta is the MD of Magister Advisors, an M&A advisory firm to the technology industry. The firm has worked on 16 transactions since it was founded three years ago, including the sale of C3 to Apple for $250 million and LoveFILM’s $320m exit to Amazon. Below is his view on Apple’s future.

After last week’s earnings, it is even clearer that Apple is not the company you think it is. Its future value will not be as a hardware designer and innovator. It will more likely be as a great software and services business, underpinned by the everyday actions of the hundreds of millions of credit card-enabled users subscribed to the iTunes store.

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