Goldman warns that Apple is too dependent on Google for services revenue, and will need to roll out a 'Prime' bundle
Goldman Sachs estimates Google paid Apple nearly $9.5 billion in traffic acquisition costs (TAC) during calendar year 2018. The fees will continue to make up a large portion of Apple's services revenue into 2019, the firm said, but will grow at slower rates. Apple could need to make up the difference with a 'Prime' bundle Drew Angerer | Getty Images Tim Cook, chief executive officer of Apple, attends the annual Allen & Company Sun Valley Conference, July 12, 2018 in Sun Valley, Idaho Analysts at Goldman Sachs estimate more than 20 percent of Apple's burgeoning services revenue comes from Google. Apple touts its services revenue as the next growth driver for the company, amid slowing iPhone sales. But the share of the segment that comes from Google is decelerating, and Apple could need to make up the difference with a 'Prime' bundle, Goldman Sachs said in a note published Monday. "Apple will need to add mid to high single digits growth back to Services r...