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Apple May Hit This Big Milestone Sooner Than Expected

TheMotleyFool

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Apple May Hit This Big Milestone Sooner Than Expected: https://g.foolcdn.com/editorial/images/714264/getty-growth-of-money-over-time.jpg

Apple's (NASDAQ: AAPL) making a big push into advertising, and it might reach its long-term goal in just a couple of years.

Earlier this year, VP of Advertising Todd Teresi said he wants to get the ad business generating double-digit billions of revenue for the tech giant. That's a big step up from the roughly $4 billion it was estimated to have generated in fiscal 2021. A new estimate from Insider Intelligence, though, puts the company's global annual ad sales at $10.7 billion by the end of 2024.

Here's what's driving the rapid advertising growth, and what it means for investors.

Source Fool.com

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