About: Apple Inc. cc(AAPL)
By: Brandy Betz, SA News Editor
Bernstein's Toni Sacconaghi thinks that Apple's (NASDAQ:AAPL) Services business could be another "shoe to drop" as clients push back on the company's app fees.
Apple charges 15% to 30% on App Store revenues and
major companies like Netflix, Spotify, and Facebook have either stopped
or threatened to stop paying.
There's an ongoing lawsuit with the U.S. Supreme
Court that could decide whether Apple's app "tax" counts as a monopoly
that overcharges its customers. If the court rules the plaintiffs have
standing to sue, the resulting case could become a problem for Apple.
Apple management has increasingly touted Services' revenue growth potential as iPhone sales slow.
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