2 Big Threats to Apple's Services Business
Apple's (NASDAQ: AAPL) services business is its second-biggest source of revenue after the iPhone. It's also the fastest-growing segment at Apple outside of other products. Last quarter, services revenue increased 18% year over year.
That revenue is largely driven by increases in app downloads. But Apple's second-largest source of services revenue comes from digital media downloads from iTunes, where it's losing market share to Amazon (NASDAQ: AMZN) and Comcast (NASDAQ: CMCSA), according to a report from The Wall Street Journal (requires subscription).
Image source: Apple.
Source: Fool.com
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