China Tipped To Power Apple Services Revenue In Q3
Apple services revenue in the third quarter is set to jump on app store developer revenue and renewed growth in China.
With Apple focusing more on the services business, investment banking advisory company Evercore said it expects total App Store developer revenue to grow 18 percent to about $9 billion in the third quarter. Apple is due to report results on July 30.
“We think there is likely upside ahead when it comes to services revenues in the June-quarter, driven by a sizeable acceleration in China-centric markets,” analyst Amit Daryanani said in a note.
China is a key market for Apple as well as a major production centre for its devices, earning nearly 18 percent of its total revenue from there in the quarter ended March.