Apple's Services Segment Ignites Growth Engine
Apple's Services segment has hit a record $30.7 billion in revenue for its June quarter, marking a 12% year-over-year increase and showing signs of becoming a dominant profit engine for the company.
This growth, combined with the accelerated iPhone cycle and the rollout of the reimagined Siri AI assistant globally, sets up a promising future for Apple. The stock has been trading at $305.26 per share, but according to 24/7 Wall St.'s price target, it could reach as high as $359.38 within the next 12 months, indicating a potential upside of 17.73%.
The company's Q3 FY26 revenue came in at $109.42 billion, up 16.36% from the previous year, with iPhone sales rising 21.7% to $54.25 billion and Mac sales increasing by 29%. Services growth is also notable, with Apple Pay hitting a record number of users and paid subscriptions surpassing 1.5 billion.