Apple's 'Advertising' Revenue Largely Fueled by Google's $20 Billion Payment

Despite declining iPhone sales, Apple's services segment, boosted by Google's payments for search exclusivity, hits record revenues.

Apple's advertising revenue includes significant contributions from Google, accounting for over 20% of its services income.
Traditional advertising makes up a small fraction of Apple's services revenue, highlighting the disproportionate impact of the Google deal.
The $20 billion payment from Google to Apple for default search engine status underscores the tech giant's strategic revenue sources.
Investor discussions and earnings reports often highlight advertising as a key growth area, masking the true nature of these revenues.
Antitrust documents reveal the specifics of the Google payment, spotlighting the complexities of Apple's revenue streams.