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Apple relies on Google for service revenue



  Tim Cook, CEO of Apple, attends the annual Allen & Company Sun Valley Conference on July 12, 2018 in Sun Valley, Idaho.

Drew Angerer | Getty Images

Tim Cook, CEO of Apple, attends the annual Allen & Company Sun Valley Conference on July 12, 2018 in Sun Valley, Idaho.

Analysts at Goldman Sachs estimate more than 20 percent of Apple's revenue services come from Google.

"Not only is TAC big but it is still growing when people search more for mobile devices, "the analysts said." By combining our TAC work with me d App Store data from the Sensor Tower we conclude that TAC and Apple's share of app store downloads represented 51 per cent of Service Revenue 2018 and a more even 70 per cent of Services gross profits. Both of these parts should grow in 2019, although the TAC is likely to decelerate materially. "

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