Bloomberg News’ Mark Gurman writes today that Apple’s new services – Apple TV+, Apple Arcade, Apple News+, and Apple Card — are “off to a slow start in first year.”
Mark Gurman for Bloomberg News:
After a few quarters on the market, the offerings haven’t contributed much to Apple’s top line.
MacDailyNews Take: Well, Apple TV+ is free for the first year to buyers of most Apple products, so there’s that.
Gurman continues:
When Apple reports results on July 30, investors will be looking for updates on these offerings. Services growth has been a bright spot in recent years as iPhone sales have slowed. For the fiscal third quarter, analysts forecast $13.1 billion in revenue from services, up 15% from a year earlier. Most of those gains will come from existing services, such as the App Store and licensing deals, rather than the new offerings.
MacDailyNews Take: Gurman’s premise for this one seems to rest heavily on the guesstimates of a single analyst, Sanford C. Bernstein analyst Toni Sacconaghi, as Apple does not report the results of each individual Apple Service.
You remember Toni Sacconaghi. He’s the “analyst” who couldn’t find millions of Apple’s “missing” iPhones on his first try.
Gurman continues:
These new services may grow more later.
MacDailyNews Take: Breaking news.