Apple May Hit This Big Milestone Sooner Than Expected – The Motley Fool
A small but fast-growing segment is about to become Apple’s next $10 billion business.
Apple‘s (AAPL -0.28%) making a big push into advertising, and it might reach its long-term goal in just a couple of years.
Earlier this year, VP of Advertising Todd Teresi said he wants to get the ad business generating double-digit billions of revenue for the tech giant. That’s a big step up from the roughly $4 billion it was estimated to have generated in fiscal 2021. A new estimate from Insider Intelligence, though, puts the company’s global annual ad sales at $10.7 billion by the end of 2024.
Here’s what’s driving the rapid advertising growth, and what it means for investors.
A billboard in your pocket
Apple has made several changes over the last year or so that have fueled significant growth in the advertising business.
Last summer it instituted App Tracking Transparency in iOS 14.5. After iPhone owners upgraded their devices, they were continuously asked if they’d like for their various apps…
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source: https://news.oneseocompany.com/2022/12/23/apple-may-hit-this-big-milestone-sooner-than-expected-the-motley-fool_2022122338151.html
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