“Apple Inc. analysts are cautiously optimistic about the company expanding its services business, a move they see as offering long-term growth potential,” Jeran Wittenstein and Ryan Vlastelica report for Bloomberg. “However, Monday’s big media event was seen as lacking key details, and even bulls say it will take a few years for the products to have a material impact on revenue or earnings.”

“Big picture, this strategy aligns with our thesis that Services, not devices, hold the key to Apple revenue and profitability growth over the next 5 years.” However, while the breadth of the services that were launched was “impressive,” the lack of pricing detail makes it difficult to evaluate the financial impact. — Katy Huberty, Morgan Stanley

The event was “materially different” than expected, as it had anticipated the TV service to be available immediately, and for more pricing details to be announced. — Rod Hall, Goldman Sachs

Read more in the full article here.

MacDailyNews Take: The biggest star to bow yesterday was Apple Card.

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