Apple Inc. is on the brink of achieving significant milestones in its revenue trajectory, with projections suggesting that its services revenue will surpass the $100 billion mark for the first time by 2025. Despite facing legal and regulatory challenges, particularly in the form of antitrust lawsuits in the US and the EU, analysts remain optimistic about the tech giant's growth prospects, foreseeing its revenue reaching over $400 billion in 2024.

Counterpoint Research anticipates that Apple's robust performance will be underpinned by the sustained expansion of its hardware and services segments. Jeff Fieldhack, Research Director at Counterpoint, acknowledges the risks posed by antitrust scrutiny but believes that any impact on iPhone monetization will likely be deferred to the medium term.

The cornerstone of Apple's success lies in its burgeoning installed base, which currently exceeds two billion devices. This expansive ecosystem has catalyzed a flywheel effect propelling the growth of the company's services business. Notably, Apple Store, Apple Care+, Apple Music, and the bundled Apple One subscription have emerged as pivotal revenue drivers, further bolstering the company's financial outlook.

Introduced in 2023, Apple One is poised to emerge as a principal contributor to the tech giant's services revenue, offering consumers a comprehensive suite of services. Analysts predict that iPhones will continue to command a significant share of Apple's revenue, remaining the linchpin of its ecosystem. Furthermore, the growth of iPhones in emerging markets is expected to fuel demand for other Apple products, as new users become entrenched in the iOS ecosystem, thereby driving incremental spending.