Storage yes, GPU, no.  The GPU is soldered to the system board.  
I had the m15 R7 for 6 months now and I have been thinking of upgrading the storage to at least 1 TB and to upgrade the graphics card to the RTX 3070. Is this upgrade even possible for laptops? If yes, how would I be able to upgrade the storage and graphics card if it is?
m15 R7, can I upgrade storage and GPU?