Maxim Group is ‘concerned’ about Apple’s services biz and subscriptions

Maxim Group is ‘concerned’ about Apple’s services biz and subscriptions

The Maxim Group has downgraded Apple from “buy” to “hold” and lowered the price target from $204 to $200, a 6% upside to yesterday’s close. Nehal Chokshi — an analyst at at the investment banking firm, cites concerns about the services business and subscriptions.

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Apple services to be the size of a Fortune 100 company by 2017

Apple services to be the size of a Fortune 100 company by 2017

Apple App Store revenue was up 37% to an all-time high in the fiscal 2016 third quarter that ended June 25. Also, the average amount spent per customer was the highest ever measured. Apple expects its services category to be the size of a Fortune 100 company by next year, says CEO Tim Cook.

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