If you’re buying a gift for the Apple devotees in your life, no longer must you choose between iTunes (for apps, music, movies, in-app purchases, subscription fees, etc.) or the Apple Store (phones, computers, accessories). With the introduction of the new unified Apple gift card, now Apple will take your money for pretty much anything it sells.
Of course, it doesn’t totally do away with the confusion, because Apple now makes an actual credit card (as in an actual line of credit from Goldman Sachs) called simply “The Apple Card.” This is a gift card, as in prepaid debit, redeemable online or in an Apple Store until the balance is emptied, and it can be refilled via your Apple account at any time.
So I guess that’s slightly less confusing. The new Apple gift card works on hardware purchases in the Apple Store (Macs, iPhones, iPads, accessories, etc.), in the App Store, iTunes, Apple Music, Arcade, TV+, Books, News+, or Books. Oh, and if you happen to have unactivated iTunes or Apple Store cards laying around, don’t worry: You can still redeem them without any issues.
Source: Apple Store via MacRumors