Wearables, iPads and Services Are Booming
Q2 2019 was Apple’s best-ever quarter for its Services business. The company saw continued growth in its active installed base. Apple currently has 390 million paid subscribers and says it expects that number to reach half a billion in 2020. Additionally, the firm says it will focus on newly released or announced services in the interim, and noted that the company “wouldn’t do a service if (it) didn’t think it was meaningful.”
When it comes to hardware, Apple’s wearables business is booming. The category saw 50 percent growth in the last quarter year-over-year and is now the size of a Fortune 200 business on its own. Apple also reported a blockbuster quarter for iPad, with revenue up 22 percent from last year. Apple says it’s the highest revenue growth for the category in 6 years.