Apple Focusing On Services Amid All Round Growth

The subscription service will offer ad-free listening, access to additional content, and early or exclusive access to new series. The subscription will be available for an annual charge of $19.99 a year.

Apple is aware of the growing concerns around user privacy. It continues to develop industry-leading tools that protect users’ privacy. Recently, it launched App Tracking Transparency, which is now available as an iOS 14.5 software update. Developers will now be required to ask users via a pop-up alert if they can track their activities across other companies’ apps and websites. People who opt-out will see fewer personalized ads.

The user will be allowed to change their mind after making a selection through a settings change. But a lot of developers, including companies like Facebook (FB), have complained of loss of targeted ad revenues due to Apple’s policy change. Apple is defending the move by making users aware of how the apps are collecting information about users to create a digital profile that is available to be sold to others.

Apple’s push to the services segment is seeing strong results. It now has more than 660 million paid subscriptions across the services on its platform, adding 40 million from the previous quarter. The addition of new services will continue to boost growth in this segment in the coming quarters.

Its stock has been trading at around $131.46 with a market capitalization of $2.21 trillion. It touched a 52-week high of $145.09 in February and a 52-week low of $53.15 in April last year.

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Disclosure: I am an investor in this company.

 All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses ...

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