Apple Stock News: Services Segment Increases Mightily

Apple Stock News

For the latest Apple Stock News, AAPL closed at $157.48 per share on August 11th, 2017. It generated a return of 1.39% from its previous close on August 10th, 2017, when it closed at $155.32 per share.
apple stock news

It is known that Apple’s main source of revenue is the sale of hardware (iPhones, Macs, etc..). However an analysis in the last earning reports revealed that Apple’s service business has increased for 5 years in a row. The service segment accounts for a sixth of Apple’s total revenue. Services are now second only to iPhone sales in with $7.3 billion for Q3 2017. Mac sales come at third place with $5.6 billion for the quarter.

Apple’s CEO Tim Cook said in 2015 that the company expects to double by 2020. That goal appears to be accomplished by early 2019, which comes as great news.

Apple’s main service programs are: iTunes, App Store, Apple Music, Apple Pay and iCloud. Unfortunately, the report would not reveal how much each program brings in nor which specific service is the most profitable. But as Apple investors wait for the company to dream up the next hit gadget, they can rely on a steady stream of business from the company’s services.

Keep checking back for more news regarding AAPL. For Full AAPL forecasts and investment advice by our state-of-the-art algorithm click here.

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