A Giant Stirs and the Nasdaq 100 Moves

There is a major 'something new' happening at Apple and that is the growth trajectory of its services revenue. This rapid growth, a potential doubling in three years, is only possible because of the global footprint of Apple devices in the world. The number of iPhones in the world is fast approaching 1.4bn. This creates a fabulous potential for Apple to sell services like ApplePay, the App Store, Apple Music, Apple TV, books, Apple Arcade, iCloud+ and more.

Individually they are often very cheap, like 79p a month for more iCloud capacity, but they can start to add up and this is valuable recurring revenue for Apple which is highly valued by investors.