Eric Jackson:

iTunes is a monster of a business within Apple which always gets ignored compared to how many iPhones and iPads it sold in the past quarter.

iTunes’ revenue in the last 12 months was roughly double the size of Facebook’s, quadruple the size of Netflix, and 21x bigger than Twitter’s.

Apple is doing fantastic in monetizing ‘social’, the cloud, the internet. It’s driving revenue and profits and hardly anyone takes notice. Perhaps we’re not so much in an evaluation bubble, but a perception bubble.