Eseandre Mordi
⬤ Apple's Services business has reached a major milestone, generating close to $300 million in daily revenue. This impressive figure sits on top of the company's roughly 2 billion active devices, which serve as the gateway for users to tap into Apple's expanding digital ecosystem. The growth has been nothing short of remarkable—daily Services revenue jumped from just $35 million back in 2012 to $299 million in 2025, marking over a decade of steady expansion.
⬤ The momentum has really picked up steam in recent years. Daily Services revenue stood at $147 million in 2020, then climbed to $214 million by 2022, hit $263 million in 2024, and reached $299 million in 2025. This category covers everything from the App Store and Apple Music to iCloud storage, Apple TV+, Apple Pay, and various subscription offerings. The consistent year-over-year growth shows how Services has evolved into a core pillar of Apple's business model.
Hardware creates the user, while Services compound the lifetime value of that customer over time.
⬤ Apple's strategy is pretty straightforward: devices like the iPhone, iPad, Mac, and wearables bring people into the ecosystem, while Services keep them engaged and spending long after the initial purchase. Once someone buys into the Apple world, the opportunities for recurring revenue multiply through software subscriptions, cloud storage, entertainment platforms, and payment services. This shift means Apple isn't just counting on device sales anymore—it's building a steady stream of income from ongoing digital activity.
⬤ The scale of this Services growth matters because it highlights how durable Apple's ecosystem has become. With daily revenue approaching $300 million, the company has built a business line that thrives on subscriptions and digital transactions, all supported by billions of devices in active use worldwide. It's a clear sign of how deeply Apple's platform has worked its way into everyday life.
Eseandre Mordi
