The Apple services business could be worth $ 650 billion within the next year
Wedbush analyst Dan Ives predicted that the Apple services business could be worth more than Facebook by the end of 2021.
According to a report by The Motley Fool, he believes that Apple’s service sector value could exceed $ 650 million in the next two years.
Apple’s service business is expected to see continued growth over the next two years, especially if the iPhone 5G super cycle materializes. The more stable recurring revenue stream from services should help balance the more cyclical sales of devices that are at the core of Apple’s business.
Ives believes Apple’s strong growth in services will continue over the next two years and estimates that revenue will rise to $ 60 billion by 2021. The analyst believes this will be partly driven by Apple TV + , where by the end of year many subscribers will arrive at the end of the free subscription of the year and will have to pay the monthly or annual fee.
The driving service is Apple Arcade , given its higher average income per user than the App Store. Finally, the Apple Card is also expected to continue adding business partners and increasing daily use.