Tim Cook’s Babe Ruth moment: Calling services biz ‘Fortune 100’ over a year in advance

“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.

SEE ALSO:
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.]

6 Comments

  1. Oh wait! I thought he said we are already there.
    He is saying that we are going to get there!?
    Are we going to get there with declining iPhone, iPad and Mac sales?
    (facepalm)

    Fire Tim Cook!

  2. Tim mentioned “Services” last quarter also. And he was right. It’s hard to get the chronically, attention-deficit, investors and pundits to focus on “the ball.”

  3. “It ain’t bragging if you can do it.” – Dizzy Dean

    I could be wrong but I think this quote is wrong. IIRC, it should be: “If you did it, it ain’t bragging.”
    FWIW: I was watching the very game when DD originally said that as a commentator.

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