A forgettable year is drawing to a close for Apple (NASDAQ: AAPL) investors, who have faced the broader stock market selloff despite the company's resilient performance amid a weak smartphone market. But 2023 could turn out to be a much better year for the tech giant, as one of its key businesses is likely to step on the gas.

We know that Apple gets most of its revenue by selling products such as the iPhone, the iPad, MacBooks, and other devices, but its services business is paying off in a big way for the company. In fiscal 2022 (which ended on Sept. 24, 2022), Apple reported services revenue of $78 billion. The segment's revenue jumped 14% year over year and accounted for nearly 20% of the company's top line.

Apple looks set to sustain the terrific growth of its services business in 2023. Let's see why that may be the case and how the segment's growth could help the company's bottom line.

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Source Fool.com