"During Apple's most recent earnings report, for the quarter ending December 2025, its services business reached an all time revenue record of $30 billion. This was a 14 percent jump from the same quarter the year prior; services was also a bigger money-making business than Mac, iPad, Apple Watch, Home, and other accessories combined."
"When Cook first took over as CEO in 2011, 'services' weren't even broken out into a separate revenue category, although, for proxy, iTunes was generating around $6 billion annually."
"As the analyst Ben Thompson points out, some of the foundation-laying work for Apple's services pre-dated Cook's term as CEO. The App Store launched in 2008, the year after Steve Jobs unveiled the iPhone, and it was Jobs's foresight to charge up to a 30 percent 'tax' on paid apps and in-app purchases."
"But it was under Cook that Apple transitioned from the world's most popular consumer hardware company to one of the leading players in the services market, significantly enhancing its revenue streams."
Tim Cook's tenure as CEO of Apple has been characterized by a focus on operational efficiency and financial growth, particularly in the services sector. Under his leadership, Apple's services business achieved record revenues, surpassing $30 billion in a recent quarter and generating over $109 billion for the fiscal year 2025. This growth reflects a strategic shift from hardware to services, with tight integration of services like iCloud and Apple Music into the iOS ecosystem, enhancing user engagement and loyalty.
Read at WIRED
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