We’re getting closer to September and for Apple, that means inching closer to the unveiling of the new iPhone 17 series.
Many experts predict the company has saved the best features for this lineup as it precedes the launch of Apple Intelligence. However, that does not mean a drop in sales for iPhone 16. Yes, the company is anticipating a lot of sales, and analysts predict it could mean a record-high figure.
The projections from experts at Counterpoint Research predicts that the iPhone maker’s revenue will cross $400B for the first time ever.
Both hardware and services will be contributing to this growth the most, they explained. While iPhone 17 sales will also go strong sales for iPhone 16 and Apple’s Intelligence is what will fuel this milestone.
The news comes despite the company engaging in serious layoffs as its recent earnings report shared a very picturesque view. The company produced $85B in revenue during the third quarter of this year which went well above the expectations of WSJ.
Apple made close to $39 billion from iPhone sales but services revenue can’t be ignored as it brought $24.2 billion. Others on the list included Mac, Home, Accessories, Wearable range, and the iPad which closed the deal at $22.2 billion. Meanwhile, the net income was $21.4 billion.
It’s the company’s hardware segment that features all of its most popular offerings that will see the greatest YoY growth in 2024, experts confirmed. Interestingly, the AirPods were the most popular and fastest-growing segment of 2024.
Apple Services which entail Music, stickers, books, and movies will also exceed the $100B mark for the first time.
When we look at Apple’s growth rates and the arrival of Apple intelligence, we can confirm that the services segment is quite exciting. It’s anticipated to grow at a swifter pace than hardware. But in regards to revenue growth, it’s hardware that will remain the deciding point to Apple’s revenue success as it generates nearly 75% of the iPhone maker’s global revenue.
Experts did conclude with another finding and that includes Apple monetizing its Apple Intelligence. This means locking some of its best offerings behind a subscription wall.
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