Apple Sees This Business Reaching $10 Billion Soon
About three months ago, Apple (NASDAQ: AAPL) made a small but notable change to its corporate structure. Its VP of advertising, Todd Teresi, started reporting directly to Eddy Cue, who oversees all of Apple's Services business.
That's apparently just the start of a big push for the advertising business. Since then, Apple's made more moves to grow the business, and Teresi said his goal is to grow the business to more than $10 billion in annual revenue.
Apple's advertising business is relatively small for a company with an installed base of over 1.8 billion devices. The company currently generates about $4 billion in annual revenue, which pales in comparison to advertising giants like Meta Platforms, Alphabet, or even Amazon. The smallest of that group, Amazon, has an advertising business nearly an order of magnitude larger than Apple.
Source Fool.com
