5 Metrics Highlight Apple's Fast-Growing Services Business
Though Apple (NASDAQ: AAPL) returned to growth in its fiscal third quarter, it wasn't because of its bread and butter business, the iPhone. Indeed, Apple's iPhone revenue was down 12% year over year during the quarter. Instead, Apple's business was lifted up by growth across the rest of its segments. Two segments, in particular, contributed meaningfully to the tech giant's top line during the period: services and wearables, home, and accessories.
Let's consider Apple's services business -- arguably the company's most important catalyst. While its wearables, home, and accessories business grew faster than services in fiscal Q3, services is the tech giant's second-largest segment. In addition, Apple's services business boasts more than twice the revenue of its wearables, home, and accessories segment.
Here are five key metrics highlighting the strength of Apple's services business.
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