“From 4:25 (very early on!) in Apple’s FQ3 2016 earnings conference call Tim Cook says during his prepared remarks: ‘Wwe expect [Services revenue] to be the size of a Fortune 100 company next year,'” AAPL Tree writes for Medium.
“Given Tim’s strong wording, we can probably put ‘next year Services revenue’ at around $28B,” AAPL Tree writes. “What that means in terms of growth depends on how Tim defines ‘next year.’ Usually, he means fiscal. But, having not been specific, he could also mean calendar.”
“Remember that baseball player Babe Ruth? Hall of Famer? He’s well-known for ‘the called shot’ …which apparently wasn’t really a guarantee from him that he’d hit a home run in a given direction, but because one media report said so, heck, he ‘ran with it’ straight into the annals of fabricated sports history (the called shot, not the home run),” AAPL Tree writes. “Well, Tim Cook, in a single comment, just did what I can’t remember Apple ever doing — give highly specific (for Apple) guidance for its single shining light (heh, consistent growth business 😏) for FY 2016, for the following year.”
Read more in the full article here.
MacDailyNews Take: Confidence.
It ain’t bragging if you can do it. – Dizzy Dean
Note: Apple’s services business includes revenue from Internet Services, AppleCare, Apple Pay, licensing and other services.
The Milwaukee-based life insurer Northwestern Mutual is currently 100 on Fortune’s list with $28.111 billion in annual revenue and 5,530 employees.
As we wrote yesterday: Sometimes, a little perspective goes a long, long way.
Tim Cook: Apple’s services business alone will be the size of a Fortune 100 company by next year – July 26, 2016
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]