Reported 1 day ago
Apple, with a market cap near $3 trillion, is primarily known for its hardware like the iPhone and iPad, which generated 75% of its $391 billion sales in fiscal 2024. However, its services segment, including Apple Music and iCloud, is growing rapidly, accounting for 25% of sales and showing a compound annual growth rate of 15.7%. This shift towards services indicates a significant change in Apple's revenue dynamics, suggesting greater profitability potential despite recent dips in iPhone sales. Investors should pay close attention to this evolving landscape as Apple continues to strengthen its services ecosystem.
Source: YAHOO