To The Moon

$Apple(AAPL)$ 's Ambitious

Apple’s share price fell 0.67% on Wendsday trading, but the highest market value of Apple during the session rushed to $2.93 trillion, just 2.3%away from the $3 trillion mark.

Like many investors, I've always believed that Apple's stock price will break through $3 trillion, and it's only a matter of time.

The latest Bloomberg news says that Apple Eyes Bringing Financial Services In-House, which is going to develop its own payment processing technology and infrastructure for future financial products, including payment processing, loan risk assessment, and more.

The "Project Breakout " hints at Apple's desire to upend the existing financial system. However, it should take several years for this work to finally come to fruition.

Turns to Apple's business map, there are five sources of revenue for Apple's Services, namely advertising, AppleCare (warranty), iCloud services, digital content and  payment services. The payment service includes two aspects, one is Apple Card (credit card jointly signed by Goldman Sachs), and the other is Apple Pay.

The figure below reflects the distribution of Apple's revenue over the past six years, of which the proportion of service revenue has continued to grow and is currently around 20%.

Obviously, Apple's payment service, like other technology companies entering the financial field, is only in the outermost layer of the financial system.

Apple's credit card is constrained by Goldman Sachs, Apple's Apple Pay is controlled by the U.S. credit card network, and Apple's financial efforts have so far only been superficial.

Although the US financial system is an open system, almost no one can shake the status of the leading banks. The total assets of the top 60 banks exceed $20 trillion, but the top 6 banks control 60%.

Source from wikipedia

The U.S. payment system has long had only two networks, $Visa(V)$ and $MasterCard(MA)$ , with the third and fourth places becoming less and less present.

The Internet has changed all industries and even manufacturing in the world, but the financial industry has not been affected at all by the impact of the Internet in the past 20 years.

If everyone has one Apple device and the Internet is an open system, are people really willing to pay Goldman Sachs and MasterCard tolls to buy a movie ticket through Apple Financial Services?

That's a question ~