Billboard reports: “Apple might be a hardware company, but its software and services business is becoming increasingly important. The tech giant on Thursday reported that its services division — which includes iTunes, Apple Music and other software — had generated record quarterly revenue of $8.5 billion, up 34 percent from the same period last year. The focus on services, which is led by senior vp Eddy Cue, is part of CEO Tim Cook’s 2016 goal of doubling its annual revenue in the segment by 2020.”

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