This study uses Apple Inc. as an individual case to study the business model innovation for Apple Inc. The outcome of the study demonstrates that Apple Inc. sells business models instead of products. In other words, the profit for Apple Inc. is achieved through a comprehensive business model and not simply depending on certain products. The success for Apple Inc. not merely relies on its innovative technology, fashionable design and fresh experience, but more importantly, iTunes and APP platform of Apple Inc. established a brand new business model – “Cool Terminal + User Experience + Content”. This business model fused hardware with software and service, which is complementary and mutually stimulative. Even though the rule of success for Apple Inc. may not be exactly duplicated, one may learn from it, and innovate based on its foundation.