Apple Notes Importance Of Services By Adding It To Descriptions Of Both Business Strategy R D

We noted this week the growing importance of services to Apple’s bottom line …

The company has now acknowledged this by adding the word in two places in an SEC filing this week, spotted by Business Insider.

Services revenue – which includes the App Store, other iTunes sales, Apple Pay, iCloud storage, Apple Music and AppleCare – is growing faster than that from any of Apple’s hardware.

Apple also added a mention of services to an paragraph about Apple’s research and development expenses in the same filing. “The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace, and to the development of new and updated products and services that are central to the Company’s core business strategy.”

Photo: MacWorld