Apple’s now worth $3 hootin’ trillion — and half could be thanks to its services biz

Last night, Apple became the first US company to breach the mark of a $3 trillion market cap. The party lasted only a brief while, as the firm’s stock brought the valuation down to $2.99 trillion within a few hours. Over the years, the iPhone has been the major force behind the Cupertino-based tech giant’s bottom line. More recently, its services business has also become an important contributor. Last quarter, services generated $18.2 billion in revenue for Apple, with 25.6% year-on-year growth. Last week, Daniel Ives, MD of investment firm Wedbush, said in an investor note that Apple’s services business…This story continues at The Next WebOr just read more coverage about: Apple

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