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Benzinga
1 min

Tim Cook Reveals Apple's Ad Business Quietly Set A Record — While Everyone Looked At iPhones

1. Apple's advertising revenue reached a new record in the last quarter. 2. The Services unit generated $28.8 billion, a 14% year-over-year increase. 3. Cook emphasized privacy in Apple's growing ad strategy amidst strong competitor moves. 4. Apple's ad growth hints at a significant shift in revenue sources for the company.

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FAQ

Why Bullish?

Increased advertising revenue indicates potential for sustained growth, similar to prior service expansions.

How important is it?

The article highlights a key growth area that may enhance overall company valuation.

Why Long Term?

The growth in advertising signifies a long-term strategy transformation, influencing future revenue stability.

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