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Apple predicts growth in near term despite down year

Matt Kapko | Oct. 28, 2016
Apple this week reported its first annual decline in both revenue and profit since 2001, but CEO Tim Cook is confident the upcoming holiday season will put the company back in the black.

Cook said Apple is confident in its services business because it directly increases user engagement and loyalty. "We have almost doubled the size of our services revenue in the last four years, and as we've said before, we expect it to be the size of a Fortune 100 company in fiscal 2017."


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