Apple has already let it be known that it has a goal to increase its Services revenue from $30 billion during fiscal 2017, to $50 billion by fiscal 2020. Jefferies analyst Timothy O'Shea told clients in a note today that he sees the Services division contributing as much as 25% of corporate revenue and 40% of gross profit by 2020. The analyst figures that the Services business deserves to be valued higher than Apple's low margin hardware business. As a result, O'Shea sees Apple Services alone worth $111 to $177 a share in two years.

CNBC notes that the analyst initiated ...


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