Looks like Apple is no longer a growth play.
It’s plenty big enough and shall continue to deliver massive profits to shareholders for many years to come.
Tim Cook: Apple’s services business alone will be the size of a Fortune 100 company by next year
Tuesday, July 26, 2016 · 8:06 pm“CEO Tim Cook said he feels ‘fantastic’ about iPhone sales in the last quarter and touted the strength of the company’s services business,” Harriet Taylor and Josh Lipton report for CNBC.
“Globally, Apple grew its revenue from Services 19 percent and the app store hit an all-time record,” Taylor and Lipton report. “Services will be “the size of a Fortune 100 company by next year,” said Cook.”
“‘I feel fantastic about how iPhone did this quarter,’ CEO Tim Cook told CNBC. ‘Looking ahead, iPhone will be more important than ever,'” Taylor and Lipton report. “Cook told CNBC he feels really good about sales in China. ‘We are not backing off our investment in China,’ he said.”
As I showed last week, the revenues from Apple's newest product, the Apple Watch, in the last year alone were larger than the annual revenues earned by 116 of the Fortune 500 companies. . . had the Apple Watch line been a stand alone company.