Apple Services Sales Surged, while Products Declined Since Q4 2022

 Apple’s financial data reveals a notable shift in revenue composition since late 2022. Between the first three quarters of 2022 and the same period in 2024, product sales declined by 6.3%, from $212 billion to $198 billion. In contrast, services sales grew by 24.6%, from $59 billion to $73 billion, highlighting Apple’s strategic pivot toward higher-margin services, which have become an essential driver of overall revenue growth.