The segment, which includes Apple's revenue from native apps, third-party apps, and other services, has been growing in importance to the company for years.
While Apple's iPhone is important today, accounting for more than half of the tech giant's revenue, another key segment is arguably equally vital to the tech company's future: services. This is up from 44% market share in 2020. Citing polls by Gallup Korea, Sohn said 52% of people in South Korea between the ages of 18 and 29 were using Apple's iPhone. Noting that the Gen Z population around the world increasingly sees Apple's iPhone as a "must have," WSJ author Jiyoung Sohn provides the example of the iPhone's growing market share in South Korea, the home country of Samsung, which is the company behind Apple's most formidable competitor. This is good news since Apple already enjoys high market share in the U.S., with iPhones accounting for an estimated 57% of smartphones shipped in the fourth quarter, according to recent research from Counterpoint. Its popularity with this population is growing outside of the U.S. The iPhone is winning over young peopleĪs The Wall Street Journal ( WSJ) recently pointed out, the iPhone's popularity seems to be high with Gen Z, or people in their teens and early 20s. As investors consider whether Apple shares are a good investment today, here are two potential catalysts worth giving some weight to in an analysis of the stock.
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