Apple Services revenue exceeds Nike & McDonalds combined

The profitable Apple Services business generates more revenue than Intel, American Airlines, and massive US companies.

Services include iCloud, Apple Music, Apple TV+, Apple Arcade, Fitness+, and others. The segment hit an all-time high recently when Apple reported that it generated $20.77 billion in revenue for Services.

According to the latest analysis from Finbold, Apple Services was responsible for $79.4 billion in 2022. This segment alone has surpassed several Fortune 500 companies.

Apple Services was responsible for $79.4 billion in 2022. Source: Finbold

For example, aerospace manufacturer Boeing recorded a revenue of $66.6 billion in 2022, while Intel, Nike, and American Airlines generated $63.1 billion, $49.1 billion, and $49 billion, respectively.

Even giants such as Coca-Cola, with a 2022 revenue of $42.3 billion, and McDonald's at just over $23 billion, trailed behind Apple Services. Apple's services had more revenue than Nike and McDonald's combined, which was $72.3 billion.

The strength of the business can help Apple insulate its earnings growth from the factors affecting its supply chain. Apple is also looking to add more services to the company, such as a Buy Now, Pay Later addition to Apple Pay.

Apple's Services revenue since 2016

Finbold is optimistic for Apple Services and believes there is a lot of potential for further growth in the consumer and enterprise markets.

Other analysts have also said that Services is a key driver to growth for Apple. For example, Wedbush suggested in June 2022 that Apple's Services growth for 2023 can help the company withstand macroeconomic difficulties.

And in July, Morgan Stanley asserted that greater emphasis on subscriptions might boost Apple's market value by over $1 trillion.

7 Comments

Appleish 714 comments · 8 Years

About 1 year ago

Mmm... Smell that? Looks like we have a heaping helping of Q this morning.

mknelson 1146 comments · 9 Years

Appleish said:

Mmm... Smell that? Looks like we have a heaping helping of Q this morning.

I had to look that document up - it appears to originate on WikiLeaks so it may be legitimate.

But, so many of those shapes are pretty generic, like the butterfly and spiral. Those images have appears throughout history in various cultures and religions for reasons other than what Rythmage insinuates.

It's like calling Buddhists (or other cultures) Nazis over their long historic use of the Swastika. The Nazis stole it from them, not the other way around.

mknelson said:

Appleish said:

Mmm... Smell that? Looks like we have a heaping helping of Q this morning.

I had to look that document up - it appears to originate on WikiLeaks so it may be legitimate.

But, so many of those shapes are pretty generic, like the butterfly and spiral. Those images have appears throughout history in various cultures and religions for reasons other than what Rythmage insinuates.

It's like calling Buddhists (or other cultures) Nazis over their long historic use of the Swastika. The Nazis stole it from them, not the other way around.

Sure. Sure. That explains why it was posted here. In the comments of a tech blog.

"Most hollywood actors/actresses are involved. A lot of evil in the tech companies." No Q there. Nosireebob.

lkrupp 10521 comments · 19 Years

This Looney Tunes, BatShit Crazy stuff does not belong on this forum, PERIOD. Remember when Hillary Clinton was accused of this crap? Remember when Jews were accused of kidnapping gentile babies and eating them.

It calls into question AppleInsider’s moderation policies. AI shuts off comments for hot political topics but allows this crap. They’ve obviously had time to see and read the blathering, mentally deranged cow dung by this user and haven't done anything about it. Most Hollywood actors/actresses are child traffickers? Really?

WHY?

Apple has gotten so large that it’s services revenue alone exceeds the revenue of entire fortune 500 companies. And I’m sure McDonald's sells more hamburgers than Apple sells iPhones too. Amazing.