Bernstein expects Apple’s services segment to generate double-digit revenue growth for at least 2 to 3 years as other parts of the tech giant’s business may grow at a slower pace.Nonetheless, Bernstein analyst Toni Sacconaghi reiterated a Hold rating on Apple (AAPL) with a price target of $400 (13% downside potential) .”While we see many of Apple’s existing businesses (e.g. App Store, iCloud, and Apple Music) decelerating to high single digit growth as incremental penetration/increased ARPU [average revenue per user] becomes more challenging, we believe there is significant runway (to $7-12B in annual revenues) from Apple’s new services, which could …read more
Source:: Yahoo Finance
