Apple Inc. 10-K form for the fiscal year ended 2022-09-24, page 21: 
Products and Services Performance

The following table shows net sales by category for 2022, 2021 and 2020 (dollars in millions):

|    |                                        |        |         |        |     |      |    |        |    |         |    |    |    |        |    |         |
|---:|:---------------------------------------|:-------|:--------|:-------|:----|:-----|:---|:-------|:---|:--------|:---|:---|:---|:-------|:---|:--------|
|  1 |                                        | 2022   |         | Change |     | 2021 |    | Change |    | 2020    |    |    |    |        |    |         |
|  2 | Net sales by category:                 |        |         |        |     |      |    |        |    |         |    |    |    |        |    |         |
|  3 | iPhone (1)                             | $      | 205,489 |        |     | 7    | %  |        | $  | 191,973 |    |    | 39 | %      | $  | 137,781 |
|  4 | Mac (1)                                | 40,177 |         |        | 14  | %    |    | 35,190 |    |         | 23 | %  |    | 28,622 |    |         |
|  5 | iPad (1)                               | 29,292 |         |        | (8) | %    |    | 31,862 |    |         | 34 | %  |    | 23,724 |    |         |
|  6 | Wearables, Home and Accessories (1)(2) | 41,241 |         |        | 7   | %    |    | 38,367 |    |         | 25 | %  |    | 30,620 |    |         |
|  7 | Services (3)                           | 78,129 |         |        | 14  | %    |    | 68,425 |    |         | 27 | %  |    | 53,768 |    |         |
|  8 | Total net sales                        | $      | 394,328 |        |     | 8    | %  |        | $  | 365,817 |    |    | 33 | %      | $  | 274,515 |

(1)Products net sales include amortization of the deferred value of unspecified software upgrade rights, which are bundled in the sales price of the respective product.
(2)Wearables, Home and Accessories net sales include sales of AirPods, Apple TV, Apple Watch, Beats products, HomePod mini and accessories.
(3)Services net sales include sales from the Company's advertising, AppleCare, cloud, digital content, payment and other services. Services net sales also include amortization of the deferred value of services bundled in the sales price of certain products.
iPhone
iPhone net sales increased during 2022 compared to 2021 due primarily to higher net sales from the Company's new iPhone models released since the beginning of the fourth quarter of 2021.

Mac

Mac net sales increased during 2022 compared to 2021 due primarily to higher net sales of laptops.
iPad
iPad net sales decreased during 2022 compared to 2021 due primarily to lower net sales of iPad Pro.

Wearables, Home and Accessories

Wearables, Home and Accessories net sales increased during 2022 compared to 2021 due primarily to higher net sales of Apple Watch and AirPods.

Services

Services net sales increased during 2022 compared to 2021 due primarily to higher net sales from advertising, cloud services and the App Store.

Apple Inc. | 2022 Form 10-K | 21







Question: What was the trend in Apple's Services revenue over the past three years (2020-2022)?
Answer: Apple's Services segment has shown consistent growth over the past three years. In 2020, Services revenue was approximately $53.7 billion. This grew to $68.4 billion in 2021, and further to about $78.1 billion in 2022. The growth rates were approximately 27.4% from 2020 to 2021 and 14.2% from 2021 to 2022. The Services segment, which includes the App Store, Apple Music, and iCloud, has become increasingly important for Apple's overall revenue, reflecting a shift towards more recurring revenue streams.