Apple's revenue from its services business in the second quarter of fiscal 2023 is expected to grow year-on-year to $20.9 billion.

April 28, according to foreign media reports, Apple, which has a large user base around the world, has also been developing service business in recent years, which is also the second largest source of revenue of Apple after iPhone in recent years, bringing considerable revenue.

For Apple's services business, some investment banks expect revenue to grow by more than 5 per cent year-on-year in the second quarter of fiscal 2023 to the end of March.

Specifically, investment banking is expected for Apple's services business, which will generate revenue of $20.9 billion in the second quarter (CTOnews.com Note: currently about 144.837 billion yuan), up more than $1 billion from $19.821 billion in the same period of the previous fiscal year (currently about 6.93 billion yuan), and about 5.7 percent year-on-year growth.

In addition to year-on-year growth, investment banks forecast revenue of $20.9 billion for Apple's services business in the second quarter, up from $20.766 billion in the previous quarter.

It is worth noting that the investment bank's latest forecast of $20.9 billion is 1 per cent lower than the previous forecast, and if not, the year-on-year growth will be even higher.

According to the plan, Apple's results for the second quarter of fiscal 2023 will be released on May 4 local time, and whether revenue from the services business will reach $20.9 billion as expected by investment banks will be revealed after the results are released.