Apple needs its new services to succeed because the existing ones will slow considerably: Bernstein [MarketWatch]
Apple Inc. (AAPL)
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Source: MarketWatch
Apple needs its new services to succeed because the existing ones will slow considerably: Bernstein Bernstein analyst Toni Sacconaghi wrote Thursday that Apple Inc. AAPL, -1.75% needs to succeed with its new services offerings given that he predicts the company's existing services business could start showing growth of less than 10% in the next three or four years. "Services growth is critical in driving Apple's overall top line, as well as potentially stabilizing overall company gross margins, which have fallen in each of the last five years," he wrote. "Given that Apple's installed base should be relatively flat going forward, services growth will likely depend entirely on additional [average revenue per user] expansion, whether through new offerings or increased monetization of existing businesses." Sacconaghi sees some potential in newer services. He estimates that Apple's advertising business could bring in $3 billion to $4 billion in revenue over the next three to five years,
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