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Apple ad revenue projected to be $11 billion in 2025: https://www.google.com/amp/s/9to5mac.com/2019/11/15/apple-ad...

Why is this hard to believe? Digital content like apps have some of the highest margins out there, and conversion ROI is easy to demonstrate, so the dollars flow easily. It’s a nice business to be in, so it’s not surprising Apple is taking it from Facebook.

We don’t know exactly how much revenue Apple currently gets from ads, because it’s folded into the services category of their financial statements. Apple has set investor expectations that the services will be the main driver of revenue growth going forward, and ads are part of that.