Applecare and replacement in first year?

I just bought Applecare for the first time since the Macbook Retina is not user servicable.  My question is, since Macbooks come with a 1 year warranty, what happens if something like the graphics card goes within the first year and my Macbook is replaced by Apple, did I then buy Applecare for nothing or would it transfer over to the replacement machine?

Actually, unless things have changed in the last few years, Apple offers the option to the customer - they may either do what you say - transfer over the balance to the new machine - or apply for a pro-rated refund of the remaining Applecare. You may then purchase AppleCare for the new machine any time within the first year you own it.
Best of luck.

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