Beyond the iTunes music store.
With net revenue from services alone of $21.2 billion, Apple is now one of the largest internet services companies on the planet.
So reiterated Credit Suisse's Kulbinder Garcha in a 64-page chart-filled "deep dive" for clients in which he raised his Apple price target to $150 from $140.
From his slide deck:
Click to enlarge.
On Wedensday, Asymco's Horace Dediu and Creative Strategies' Ben Bajarin will be taking their own deep dive into Apple services. See here.