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

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money
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.

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

Samsung wants to follow Apple in building a giant services business

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Samsung wants to follow Apple in building a giant services business
Samsung wants to build a $50 billion-a-year services business. Who doesn't?
Photo: Mathieu Turle/Unsplash CC

Samsung wants to copy Apple’s success in services by establishing a $50 billion-a-year services business. This would help the company make up for falling smartphone sales with subscription sales.

Having invested heavily in software over the past four years, a senior Samsung executive said the company is working to turn this into, “meaningful customer experiences.”

Apple ad revenue could hit $11 billion a year by 2025

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AppleTV+
How are Apple Originals looking on your TV?
Photo: Roku

The money Apple earns from advertising could rise to a whopping $11 billion a year by 2025, one analyst says.

Cupertino currently rakes in around $2 billion a year from ad revenue. The recent launch of Apple TV+ provides an opportunity for that to skyrocket over the next six years.

But will Apple really take advantage of it?

Apple sets new Q4 record with $64 billion in revenue

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European Commission could get even tougher on tech in 2020
European Commission could get even tougher on tech in 2020
Image: Ste Smith/Cult of Mac

Apple earnings report for the fourth fiscal quarter of 2019 met the most bullish of Wall Street expectations this afternoon with a Q4 record high of $64 billion in revenue and $3.03 earnings per share.

Apple’s stock price started soaring in after-hours trading on news of the positive earnings. With the iPhone 11 on sale for just 10 days during Q4, Apple CEO Tim Cook gave credit to Apple’s booming service business and the Apple Watch and AirPods for pushing the quarter to record heights.

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Earnings call
Get ready for another record breaking quarter.
Photo: Jim Merithew/Cult of Mac

Analyst isn’t convinced that Apple’s got a promising future in services

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Samsung wants to follow Apple in building a giant services business
Services is an incredibly competitive area.
Photo: Mathieu Turle/Unsplash CC

Plenty of folks are buzzing over Apple’s shift to services. From Apple Arcade to iCloud to Apple TV+, Apple’s got a new lucrative business stream which could pick up some of the slack from falling hardware sales.

Keybanc analyst Andy Hargreaves isn’t convinced, however. In fact, he points out that not only are services a competitive market (which everyone knows), but that Apple may actually be headed in the wrong direction.

Services fuel Apple to historic June quarter

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European Commission could get even tougher on tech in 2020
Apple shares are trading up on the good news.
Photo: Ste Smith/Cult of Mac

Record-breaking revenue put Apple right in line with Wall Street expectations as the company released its Q3 2019 earnings report today.

The iPhone-maker brought in $53.8 billion in revenue, a number within range of its own guidance and most analysts’ predictions. That set a new record for Apple third-quarter revenue — a slight gain from Q3 2018’s $53.3 billion. CEO Tim Cook touted the company’s subscription offerings for fueling the new all-time high.