7 Metrics Show How Apple, Inc.'s Services Business Is on Fire

Apple's (NASDAQ: AAPL) better-than-expected third quarter took investors by surprise earlier this week. After the report, the stock hit a new all-time high. The quarter benefited from broad-based growth across all of Apple's product segments. But one segment stood out as an exceptional contributor to the tech-giant's growth -- and it wasn't the iPhone.

Apple's services segment, which includes revenue from the App Store, iTunes, AppleCare, Apple Pay, licensing, and other services, continued to deliver strong growth for the company in Q3. With Apple's services business consistently growing by double digits year over year, the segment is becoming more important than ever before.

App Store. Image source: Apple.

Source: Fool.com