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Submission: On July 30 via api from BE — Scanned from DE
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AAPL -0.66% Apple (NASDAQ:AAPL) is scheduled to report fiscal third-quarter earnings after the bell on Thursday, August 1, with investors likely to be watching for sales results in the China region and updates related to artificial intelligence (AI). However, according to Loop Capital, AI isn't the only significant growth driver for the tech giant; the firm’s analysts also see Apple's Services segment "skyrocketing." More concretely, analysts emphasize the importance of Apple Music, Apple TV, and iCloud, projecting substantial revenue increases for these products in the coming years. Apple Music currently generates $9.2 billion in revenue and is expected to grow further. Similarly, iCloud, which stands at $8 billion, “is primed for massive growth” driven by AI, Vision Pro, and more data-intensive apps, games, and video content, analysts noted. Moreover, Apple TV, with nearly 125 million subscribers, generated just under $1 billion in the past year. According to Loop analysts, the growth opportunity within this service is “massive.” “We expect content gains mainly through acquisition to drive the Apple TV growth,” they noted. Analysts also highlighted Apple News, which currently commands about $1.3 billion annually, and has an $8 billion total addressable market (TAM). Overall, Loop Capital’s analysis suggests that by 2030, the TAM for Apple’s Services could reach $391 billion, out of a total company TAM of $1.659 trillion. For comparison, the current TAM for Apple’s services sits at around $209 billion. Still, the iPhone remains a cornerstone of Apple's product lineup, analysts said. The upcoming iPhone 16 and 17 cycles are expected to benefit from the integration of AI, which will push consumers towards new devices as refurbished and older models will lag in performance. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. The firm forecasts Apple’s total revenue to surpass $500 billion in the next 3-4 years, with iPhones accounting for roughly half of this amount. Beyond the iPhone, Loop Capital also stressed the importance of Apple’s custom AI chip, which is expected to have “major implications in 2025 and beyond.” In addition, the investment bank points to the resurgence of other devices like the Mac and iPad, which are recovering from sales slumps post-pandemic, aided by new designs and increased integration across Apple’s ecosystem. SHOULD YOU INVEST $1,000 IN AAPL RIGHT NOW? Investing.com’s ProPicks are 6 model portfolios that identify the best stocks for investors to buy now. The stocks that made the cut could produce monster returns in the coming years. Is AAPL one of them? Unlock ProPicks to find out AI not only driver for Apple, services seen skyrocketing: Loop Capital * * * * View all comments (2)2 LATEST COMMENTS Post Comment Guidelines Stela Radu4 hours ago Mihalache (Radu) Stela Reply10 itsik ovalia2 hours ago yep! Reply00 Loading next article… Trade With A Regulated Broker Indices Commodities Bonds Stocks 1D 1W 1M 6M 1Y 5Y Max Created with Highcharts 9.3.318:0030/0706:0012:0040 40040 50040 60040 700 US 30 40,583.20 +43.3 +0.11% US 500 5,427.30 -36.2 -0.66% Dow Jones 40,653.09 +113.16 +0.28% S&P 500 5,427.27 -36.27 -0.66% Nasdaq 17,141.24 -228.96 -1.32% S&P 500 VIX 17.58 +0.98 +5.90% Dollar Index 104.457 +0.143 +0.14% Crude Oil WTI Futures 74.73 -1.08 -1.42% Brent Oil Futures 78.06 -0.99 -1.25% Natural Gas Futures 2.093 +0.057 +2.80% Gold Futures 2,434.65 +9.15 +0.38% Silver Futures 28.195 +0.329 +1.18% Copper Futures 4.0575 -0.0270 -0.66% US Soybeans Futures 1,012.38 -16.62 -1.62% U.S. 10Y 4.17 -0.007 -0.17% U.S. 30Y 4.423 -0.010 -0.24% U.S. 5Y 4.063 -0.007 -0.18% U.S. 3M 5.298 +0.006 +0.11% US 10Y T-Note Futures 111.41 +0.06 +0.06% Euro Bund Futures 133.38 +0.14 +0.11% 10-2 Yield Spread -23.13 0.00 0.00% AAPL 216.81 -1.43 -0.66% GOOGL 169.38 -0.15 -0.09% TSLA 224.88 -7.22 -3.11% AMZN 181.44 -1.76 -0.96% NFLX 624.93 -2.03 -0.32% META 464.25 -1.46 -0.31% BAC 41.48 +0.39 +0.95% Most Popular Articles News Analysis Up 14% premarket, this value play is set to keep rallying on fantastic earnings By Investing.co... 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Jul 29, 2024 5 More News Market Movers Most Active Gainers % Losers % NameLastChg. %Vol. NVDA 105.72-5.26% 166.20M TSLA 227.10-2.15% 41.08M AMD 137.06-1.93% 18.66M AMZN 182.17-0.56% 13.51M AAPL 217.21-0.47% 13.18M CRWD 234.98-9.21% 11.72M MSFT 422.63-0.96% 6.25M NameLastChg. %Vol. HWM 93.76+13.17% 3.26M FFIV 198.77+11.93% 1.11M PYPL 63.36+7.50% 23.57M SWK 103.55+7.38% 1.86M IT 499.99+6.19% 328.54K ZBRA 351.30+4.84% 487.03K PSX 147.29+4.90% 1.34M NameLastChg. %Vol. MRK 114.68-10.25% 14.32M CRWD 234.98-9.21% 11.72M GLW 39.02-8.58% 11.61M ECL 229.37-7.48% 961.80K NVDA 105.84-5.15% 167.60M ARM 134.05-5.23% 4.90M PG 160.00-5.84% 7.30M TRENDING STOCKS NameLastChg. %Vol. NVDA 105.72-5.26% 166.20M TSLA 227.12-2.15% 40.91M MCD 263.49+0.79% 1.36M AMD 137.06-1.93% 18.66M MSFT 422.66-0.95% 6.22M Show more ProPicks AI AI-powered stock picks with a proven track record to beat the S&P 500. 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