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Apple's Service Revenue Closes In on $30 Billion a Year: Chart

Apple’s earnings will likely confirm what most investors have come to accept - iPhone X hasn’t lived up to the hype.

Apple's Service Revenue Closes In on $30 Billion a Year: Chart
A customer looks at an Apple Inc. iPhone X at an Apple store during its launch in Hong Kong, China. (Photographer: Justin Chin/Bloomberg)  
Apple's Service Revenue Closes In on $30 Billion a Year: Chart

(Bloomberg) -- Apple Inc.’s earnings 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.

To contact the reporters on this story: Brandon Kochkodin in New York at bkochkodin@bloomberg.net, Mark Gurman in San Francisco at mgurman1@bloomberg.net.

To contact the editors responsible for this story: Sophie Caronello at scaronello@bloomberg.net, Nancy Moran

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