4/28/2023 0 Comments 14 segment font![]() Ives, meanwhile, pointed to the iPhone 15, Apple’s upcoming AR/VR headset, and new Mac hardware as potential boons for the company’s share price in the coming months. ![]() Ng said he expects Apple to continue to grab market share from Android-powered competitors in both mature and growth markets. ![]() In his note, Ng also pointed to services as a means for Apple to further grow its business.Īccording to Ng, Apple’s services business should account for 40% of the company’s gross profit by 2027, up from 33% in 2022, thanks to iCloud+ sales, improved advertising revenue, and a boost in Apple TV+, Apple Arcade, and Apple Fitness+ subscriptions.įor his part, Ives said he believes Apple’s services business is worth roughly $1.2 trillion to $1.3 trillion for Apple’s sum-of-the parts valuation and is under-appreciated by Wall Street.īut services isn’t the only thing the analysts are banking on. ![]() Ives also pointed to Apple’s services business as a potential catalyst for the company, saying that he expects the segment growth to reaccelerate into the double digits. Apple CEO Tim Cook gestures at the Apple Fifth Avenue store for the release of the Apple iPhone 14 range in Manhattan, New York City, U.S., September 16, 2022.
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