Apple reports Q4 revenue from Services, which includes the App Store, Apple TV+, and Apple Music, up 12% YoY to $24.97B, a new quarterly record, but below est.
It's no mythical supercycle, but iPhone sales are up 6%, driving Apple product revenues up 4% overall. Apple's overall revenues hit a quarterly record because Services is up 12% to $25 billion FOR THE QUARTER. Apple Services is now a $100 billion annual business.