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Apple’s iTunes 10th Anniversary – Revenues at $6 Billion – Growing at $1 Billion/year… Not bad for a “Business segment… ⭐⭐⭐⭐⭐📍

April 29, 2013

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Apple’s iTunes 10th Anniversary – Revenues at $6 Billion – Growing at $1 Billion/year… Not bad for a "Business segment…

FORTUNE – Asymco’s Horace Dediu contributed to the bouquet of articles celebrating the iTunes Store’s 10th anniversary with a story for Billboard magazine and the bar chart above, posted with a score of eye-popping data points in Happy Birthday iTunes Store.

What struck me, looking at Apple’s most recent SEC Form 10-Q, is that revenue from the iTunes Store grew faster sequentially (30%) and year over year (26%) than every other line of Apple’s business except the iPad (40% and 29%, respectively).

Maybe that’s one of the reasons Tim Cook talked almost as much about Apple’s new services during last week’s earnings call as he did about the company’s hardware products.

Look at this Graph of Revenues. An amazing Slope Upwards… Presently at $6 Billion and growing at greater than $1 Billion/year… Not bad for a “Business segment.” And Apple is trading at 9x earnings, the bargain of the decade.

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