We often talk about how massive companies compete against each other. But leading tech giants also do a lot business together. Did you know that Apple is Google Cloud's biggest client? When you pay Apple a monthly iCloud fee for your data storage, you are actually using Google.
Apple pays Google $300 million a year for the 8 exabytes of storage their users require. 1 Exabyte is 1.073 billion gigabytes. This number will increase by 50% in 2021 compared to 2020. As Apple users take more videos, download more music and save Netflix shows to their devices, the demand will only grow. Very interesting.
Google Cloud has the potential to be a huge profit driver for the whole Google group (also known as Alphabet). It's under the radar because they are still far behind Amazon Web Services and Microsoft's Azure, but they will catch up quickly with A-list clients like Apple, Spotify, and ByteDance.