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Analysts expect Apple’s annual revenue to exceed $400 billion this year, thanks to the “iPhone 16” series of phones and artificial intelligence services scheduled to be launched during the company’s annual meeting on September 9.
Market research firm Counterpoint expects all of Apple’s major device lines to grow this year after year-over-year revenue fell last year.
The record figure is expected to be driven by growth in the hardware and services industries. After a decline in 2023, Apple’s hardware revenue is expected to grow 3% year-over-year this year.
Growth is also likely to be driven by expected new releases across all major device segments, including the iPhone and MacBook, with services revenue set to continue to grow, reaching record levels in 2025, exceeding $100 billion for the first time.
While services revenue has become increasingly important to Apple, the company still generates 75% of its revenue from hardware.
Tarun Pathak, research director at Counterpoint, said Apple’s advantage in artificial intelligence will be key to driving sales of the new devices.
Pathak added: “In terms of growth rates, Services looks very exciting with the emergence of Apple AI, but in terms of absolute revenue growth, it’s still hardware. It is critical in driving growth as it contributes three-quarters of Apple’s global revenue.
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