Apple's Services Revenue Is Likely to Cross $50 Billion in Fiscal 2020

One of the main reasons Apple (NASDAQ: AAPL) stock has won over the market recently is its fast-growing services segment. With the high-margin business growing as a percentage of total revenue, Apple is becoming less dependent on hardware -- revenue that has a lower margin and is more volatile than services.

To put into context how big Apple's services business has become, it could see revenue greater than $53 billion if it kept up last year's 16% growth rate -- an outcome that represents a reasonable forecast based on services' accelerated growth in the final quarter of fiscal 2019.

Here's a closer look at the import segment's momentum.

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Source Fool.com