| Cult of Mac

Apple’s Services business alone is worth more than most countries


Tim Cook is keeping quiet about Apple TV+ subscriber numbers for now.
Services are still killing it.
Photo: Apple

Tim Cook’s mission to make Apple’s Services business a behemoth all by itself is paying off in a big way. The latest Wall Street estimate pegs its total value at a whopping $1.5 trillion — more than a third of Apple’s total market cap.

To put that figure into perspective, it’s more than the national net worth of most countries — including Ukraine, Hungary, Peru and Qatar combined.

Customers spend $540 million in the App Store on New Year’s Day


Apple services
Services are big business for Apple.
Photo: Apple

Apple customers spent a record $540 million-plus in a single day on digital goods and services on New Year’s Day, Apple said Wednesday.

This followed a monster holiday season in which App Store customers splurged $1.8 billion in the App Store between Christmas Eve and New Year’s Eve. Users spent much of this astonishing amount of money on games.

Apple One is the Prime-style bundle that will lock us into Apple services


Amazon Prime video
Can Apple follow the Amazon Prime formula?
Photo: Morning Brew/Unsplash CC

Apple One, which bundles several of the company’s vaunted services together, is a genius move. At best, it saves you money. At worst, it looks like it does.

I think it’s going to be a massive hit for Apple, and will provide a much-needed boost for struggling services like Apple News+ and Apple Arcade. However, it might cause some big headaches in Cupertino, too.

Apple explores new ways to promote its services


Apple services are important to the company’s future profits.
Apple.com was all about Apple TV+ on Friday. It’s all part of advertising this company’s services.
Screenshot: Apple/Cult of Mac

Apple TV+ took over the Apple.com home page on Friday. And the company also released a lengthy video about a game recently added to Apple Arcade. These Apple services are seen as increasingly important to its bottom line. And the company is using new ways to advertise them.

From Apple TV+ to Apple Arcade, Cupertino’s new services fail to bring in big money


Share Apple TV+
Apple services may not be bringing in the cash, Bloomberg says.
Photo: Charlie Sorrel/Cult of Mac

As Apple’s services division grows in importance, the company’s newest services — Apple TV+, Apple Arcade, Apple News+ and Apple Card — are failing to bring in significant revenue, according to a new report.

Bloomberg‘s Mark Gurman writes that, while services likely will increase yet again when Apple announces its Q3 earnings this week, most of these gains will come from older services like the App Store.

Services could help make Apple a $2 trillion company by 2024


Suddenly that $1 trillion valuation looks pretty paltry.
Photo: Ste Smith/Cult of Mac

Apple was the first public company in history to reach a $700 billion, $800 billion, $900 billion, and $1 trillion valuation. Could it also be the first company to hit the vaunted $2 trillion mark? And, if so, when will this happen?

In a research note to clients, Evercore ISI analyst Amit Daryanani argues that not only can Apple get to this mark, it can do so over the next four years. That would be just six years after it hit $1 trillion for the first time. Today, Apple is worth around $1.3 trillion.

Apple rolls out App Store, Apple Music, iCloud, more in 20+ new countries


International App Store
Apple's focusing on growing its services business more than ever.
Photo: Apple

Apple announced Tuesday that it is launching a whole host of its services in dozens more countries around the world.

Starting today, the App Store, Apple Arcade, Apple Podcasts, and iCloud are available in 20 additional countries. Apple Music, meanwhile, has picked up an additional 52 (!) international markets.