Apple’s Services business alone is worth significantly more than Tesla – analyst

Apple 3.0’s Philip Elmer-DeWitt has published excerpts from note to Wedbush clients from analyst Daniel Ives that pegs Apple’s Services business at “$1.5 trillion in the eyes of the Street,” or some $319 billion more than the current market value $1.181 trillion value of Tesla.
Apple TV+
Apple’s Services business is currently comprised of Apple TV+, Apple Music, Apple Fitness+, Apple Arcade, Apple News+, iCloud storage, AppleCare, Apple Podcasts, Apple Books, Apple Card, and Wallet (Apple Cash, etc.).
Philip Elmer-DeWitt for Apple 3.0:

From a note to Wedbush clients that landed on my desktop Sunday:
While the supply chain shortages has dominated the Street conversation around Apple in the holiday quarter, we instead are focused on the robust consumer demand story shaping up for iPhone 13 into 2022. Based on our supply chain checks over the last few weeks, we believe demand is outstripping supply for Apple by roughly 12 million units in the December quarter which now will add to the tailwinds for Cupertino in the March and June quarters as the supply chain issues ease in 1H22…
The linchpin to Apple’s valuation re-rating remains its Services business which we believe is worth $1.5 trillion in the eyes of the Street, coupled by its flagship hardware ecosystem which is in the midst of its strongest product cycle in over a decade led by iPhone 13.

MacDailyNews Note: Wedbush maintains an “Outperform” rating and $200 price target on Apple shares.
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