Apple’s Services Revenue Surges 150% in 9 Years: A Game-Changing Contribution

A recent Stocklytics.com data analysis shows the segment’s share of Apple’s revenues has jumped 150% in the last nine years. The site reports that the branch accounted for 25% of the tech giant’s Q3 2023 earnings, up from 10% in Q3 2015.

According to Stocklytics’ investment expert Edith Reads, Apple Services’ growth has been extraordinary. She adds that the rise is more impressive given that it has outdone some of Apple’s other key segments like wearables and iPads.

Edith projects an even brighter future for the segment, asserting:

Apple Services’ income surge underscores its growing significance to Apple’s overall revenue structure. The segment can only consolidate its gains as the tech giant innovates to expand its global reach.

Apple Services’ quarterly earnings have been on a tear since crossing the $10 billion mark in Q3, 2018. This movement has seen the unit’s annual income grow from roughly $40B in FY18 to over $85B in FY23. The full story and statistics can be found here: Apple’s Services Contribution to Total Revenue Skyrockets by 150% Over the Past 9 Years