Er, nope…You got the last two components correct, though.
AIFF is an acronym for Audio Interchange File Format. Interestingly, while it does not contain the name Apple within the expansion, the specification itself was developed by Apple back in 1989. (Coincidentally, this is the same year in which MPEG-1, the parent technology for the MP3, was introduced.) It is also the high quality, raw audio format used in commercial CD production. The specification predates the concept of ID3 tags and there has been no amendment to accommodate them.