It's estimated that when Apple was incorporated in 1977, its revenue for the first year was around $775,000. Nearly 50 years later, its latest official financial results showed it earning $84.78 billion in Q3 2024.

For the whole of 2024, according to research and estimates from Counterpoint Research, the company is now likely to earn more than $400 billion. Significantly, this follows a decline in earnings in 2023, and the new rise is attributed to not just the iPhone, but all Apple hardware — and services.

"[Apple's Services segment] is poised to grow at a much faster rate than hardware," said Counterpoint's Tarun Pathak. "However, in terms of absolute revenue growth, hardware remains critical in pushing the needle considering it contributes to three-fourths of Apple's global revenues."

"After a decline in 2023, 2024 will see growth in several key hardware categories driven by multiple launches," continued Pathak. "Then there is also a promise of Apple Intelligence being implemented across hardware segments, which has once again created some excitement and could drive upgrades."

That would mean Services earning more than all of Apple's hardware, excluding the iPhone.

Overall, Counterpoint bases its estimates on predictions that as well as the iPhone, there will be new launches of the iPad, Mac, Apple Watch, and AirPods. It believes that AirPods could become the fastest-growing part of Apple's earnings.

Looking further ahead, the researches predict that Apple will directly earn revenue from Apple Intelligence, once it has determined which elements could be monetized. Counterpoint expects that Apple Intelligence could boost Services revenue by at least 10% to 15% over the next few years.

Apple Intelligence is expected to be a key part of Apple's launch for the iPhone 16, which is now to be on September 9, 2024.

Source: Appleinsider