Apple’s annual ad income may rise to $11 billion by 2025, says JPMorgan

The launch of Apple TV+, coupled with Apple Inc’s foray into digital services, could help the company increase its income from advertising by more than five fold to $11 billion annually within the next six years, analysts from JP Morgan said on Friday.

Raising his share price target for the iPhone maker, analyst Samik Chatterjee argued the company could leverage the millions of users who search its App Store and Safari browser daily to generate the stellar growth seen by Facebook and Google in recent years.

He said the company had the potential to raise revenue by a third every year, from an estimated $2 billion currently to $11 billion in 2025. Apple does not currently give detailed figures on advertising revenue.