Apple has long been considered to be the company with the biggest chances worldwide to break the $1 trillion market cap, and now an analyst forecast predicts this could happen rather sooner than later.
Morgan Stanley analyst Katy Huberty said in a note to investors that Apple could hit this historic milestone not thanks to the iPhone, which continues to be the company’s best-selling product, but following the massive growth of its services division.
The Services unit, which includes the App Store and iTunes, has indeed recorded a massive growth lately, reaching no less than 270 million customers in the last quarter.
“Services is fast becoming Apple’s primary growth driver,” the analyst explained. “Apple revenue grew at an 8 percent [compound annual growth rate] over the last five years, driven in large part by sales… (read more)
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