Can Apple Services Growth Offset Slowing iPhone Business?

While Apple (AAPL) investors have fixated on slowing iPhone sales and the maturing smartphone business, they are underappreciating the company's fast-growing services segment, according to a Wall Street analyst.

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"We think investors have been hyperfocused on the iPhone unit trends and less focused on Apple's ability to grow and monetize the installed base," RBC Capital Markets analyst Amit Daryanani says in a report to clients. Apple's services segment is a key growth area for investors...

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