What is covered in the first year of warranty?

I have yet to buy the AppleCare for my MacBook Pro but have every intention of purchasing it this summer. With that said, what exactly is covered in the first year of warranty? Is parts and labor still covered or what?

So if my hard drive is indeed defective, I'm out of luck since I am over 90 days???
If it's a manufacturing defect, you're covered for the first year. Only free phone support for software issues is restricted to the first 90 days.
(30978)

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    (30978)

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