Apple’s Service Revenue Closes In on $30 Billion a Year

Apple Inc.’s
on Tuesday will likely confirm what most investors have come to accept: The iPhone X hasn’t lived up to the hype. On the other hand, the company’s services segment, which includes sales from iTunes and the App Store, is expected to continue its upward revenue trend. Gene Munster, co-founder of Loup Ventures and a longtime Apple analyst, sees 18 percent to 20 percent growth in the division for the second quarter. Apple executives continue to say they expect the services business to reach $50 billion per year in revenue by 2021.

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