AppleCare, the company’s insurance program, offers employees a wide range of benefits, including health insurance, 401(k) and other perks.
But the cost of AppleCare has been rising, and Apple has become increasingly dependent on its customers for its profits.
The company announced its second-quarter profit was $1.03 billion, which is up about 40% from the same period last year.
It had revenue of $38.7 billion.
Its stock price has been on a tear lately, soaring nearly 70% this year.
The stock is up nearly 30% in value since last year, and the company is valued at about $4.6 billion.
The company says it is on track to reach $15 billion in revenue this year, which would be the biggest in Apple’s history.
The plan has become a big revenue stream for Apple.
In its most recent quarter, AppleCare accounted for nearly two-thirds of its revenue.
That number has increased by almost 60% from last year to $12.9 billion.