4 Services Business Is (Still) Booming

Apple’s Services sector is continuing to grow. Largely expected to overtake the iPhone as Apple’s biggest driver of growth, the company reported an all-time revenue record of $10 billion and a 17 percent increase year-over-year for Q4 2018.

Services include iTunes, the App Store, Apple Music, iCloud, Apple Pay and AppleCare, among others. For these services, Apple says that its subscriber base has grown 50 percent — to 330 million subscribers — from this time last year.

Apple Pay is also expanding. Apple Pay transactions have tripled from last year and the proprietary system is now supported in 71 out of 100 major retailers in the U.S.