Forecast Of The Day: Apple’s Services Revenue

by Trefis Team
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Upside
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Trefis
AAPL
Apple
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What?

Trefis expects Apple’s (NASDAQ:AAPL) Services Revenues to grow from around $54 billion in 2020 to about $67 billion in 2021 and $75 billion in 2022.

Why?

Services sales are likely to be driven by Apple’s growing installed base, the continued growth of the AppStore, and newer digital services such as Apple TV+ and Apple Fitness+.

So What?

Services are now the second-largest driver of Apple’s profits and valuation per our estimates. The potential outperformance of this business could have an outsize impact on Apple’s stock.

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