Epstein Secrets

asing across services. This alert is sent from: Andrew Atlas, Andrew[email protected] You receiv

(NFLX reportedly not testing this in the US) then the net revenue =mpact to the App Store on a T12M basis would be 80bps, and about 30bps =or all of Apple Services, with an immaterial impact to total Apple =evenue. And despite the margin profile of the App Store being =eaningfully higher than company average,

mportantly, unit revis This alert is sent from: Andrew Atlas, Andrew[email protected] You receiv

ng Lumentum's and Qorvo's negative pre-announcements this =eek suggests investors remain narrowly focused on units, despite the =ncreasing value of Apple Services. As highlighted in our Insight note =ast week, our detailed analysis of Apple Services gives us confidence =n long-term growth and valuation upside

esult, we have a bette This alert is sent from: Andrew Atlas, You received this because you requested =

rs instead ought to =ocus on understanding the drivers and growth trajectory of the Services =usiness. We are using this follow-up to our March 2018 Apple Services =eep dive to explore the largest business within Services, the App =tore, which we estimate already accounts for nearly 40% of total =ervices revenu