Apple bet on services like the App Store in 2019, and it looks like it paid off

Apple is traditionally known as a hardware company selling its popular iPhones, iPads, and Mac computers. However, in recent years, Apple’s focus has shifted. Judging by the latest data, it appears that shift in focus has paid off.

Apple is a services company now.

“2019 was the biggest year for Services in Apple’s history,” said Apple’s senior vice president of Internet Software and Services Eddy Cue in a company press release on Wednesday.

According to Apple, customers spent a record $1.42 billion in the App Store between Christmas Eve and New Year’s Eve. This translates to a 16 percent increase from the year before. In addition to that humongous number, consumers spent $386 million in the App Store on New Year’s Day 2020 alone, a 20 percent increase from last New Year’s and a new single-day record for the company.  Read more...