Apple Music, Pay, iCloud and others could generate $ 100 billion in 2023

Apple Music

It is not today that we talk about the services as Apple’s possible future primary growth engine, surpassing even the iPhone. However, Apple’s interest in this prospect should be more intense than ever, now that the general public interest in its smartphone line seems to have entered a downward curve.

Well, if Morgan Stanley analyst Katy Huberty’s predictions are correct, Tim Cook and his gang don’t have much to worry about: Apple’s Services category will become a very, very profitable business in not too long.

The analyst recalls that, in 2016, Apple set a goal of doubling the revenue from the segment by 2020. Considering the fast pace that it has grown (the fiscal year of 2018 saw a result of US $ 37 billion in the sector), Huberty believes that it will happen faster than anticipated and that when Apple reaches the target it will quickly double it – and can then reach $ 100 billion revenue in Services as early as 2023.

In other words: if the predictions are correct, the trend is that Apple will be increasingly dependent on products like iCloud, Apple Music, Apple Pay, App Store, iTunes Store and the future platform for streaming from the company. The letters are already in hand for this move: Apple has announced that it will stop releasing the exact sales figures for iPhones, iPads and Macs, probably already anticipating a future in which its online services platform will be its main source of income.

The question remains: to what extent will this influence (positively or negatively) in the development of hardware, which has always been Apple’s greatest asset? This, dear readers, will only be discovered over the years.

via Apple World Today