In our latest episode of Technically Speaking, TheStreet's tech columnist Eric Jhonsa and Action Alerts Plus Portfolio research analyst Zev Fima make sense of the earnings reports from Facebook (FB) - Get Report and Amazon (AMZN) - Get Report , plus look ahead to Apple's (AAPL) - Get Report earnings release on Tuesday, July 31st.
But before the party begins, be sure to get the lowdown on Apple's ever-growing services revenue, and what it could mean for investors on Tuesday.
Apple's Services revenue rose 31% in the March quarter to $9.19 billion, and was a major reason why Apple beat quarterly sales and EPS expectations. App Store transaction growth, Apple Music sign-ups and higher search ad revenue-sharing payments from Alphabet/Google (GOOGL) - Get Report -- in exchange for making Google the default search engine on iOS, macOS and the Safari browser -- are believed to be the biggest drivers. Apple Pay transactions and iCloud Storage subscriptions appear to be playing lesser roles.
For the June quarter, the consensus is for Services revenue to rise 27% to $9.21 billion. Back in early 2017, Tim Cook declared that Apple aims to double its Services revenue by 2020.
Follow TheStreet on Soundcloud for regular updates on tech stocks, markets analysis and exclusive interviews with some of the biggest names on Wall Street.