FORTUNE -- Apple's (AAPL) No. 4 revenue stream -- after the iPhone, iPad and Mac -- is a line item the company calls iTunes, Software and Services.
The category is something of a hodgepodge -- a grab bag where the company tosses, to quote from a footnote in its SEC filings, "revenue generated by sales on the iTunes Store, the App Store, the Mac App Store and the iBookstore, plus revenue from sales of AppleCare, licensing and other services."
Everything, in other words, that you can't drop on the floor. Let's call it iTunes, for short.
The good news is that iTunes is a large and growing business in its own right. It generated more than $16 billion in revenue in fiscal 2013, which would put it somewhere between General Mills (GIS) and The Gap (GPS) in the Fortune 500.
The bad news is that iTunes has never experienced the exponential growth rates of a pure Internet play. And according to the 29 Apple analysts who submitted iTunes estimates in our quarterly earnings roundup -- 16 Wall Street professionals and 13 amateurs -- its growth rate is less than half of what it was last year.
On average, our sample of analysts expect Apple this week to report quarterly iTunes revenue of $4.55 billion, up 10.6% year over year. In Q2 2013 iTunes revenue was growing at the rate of 26%.
Not even our most optimistic analyst -- BNP Paribas' Alexander Peterc -- expects a repeat of that kind of growth. The Braeburn Group's Sunil Shaw, our biggest pessimist, is looking for iTunes revenue to fall by nearly 3%.
We'll find out who was closest to the mark when Apple reports its earnings for fiscal Q2 2014 after the markets close on Wednesday, April 23.
Below: The individual analysts estimates, with the pros in blue and the indies in green. Thanks once again to Posts at Eventide's Robert Paul Leitao for pulling together the Braeburn Group numbers.
The estimates range from 3.7 million to 4.8 million. Average: 4 million, up 2.8% from 2013.
FORTUNE -- Once Apple's (AAPL) biggest money maker, the Mac at 12% of total revenue is now No. 3 after the iPhone (52%) and iPad (20%).
[No. 4 at 7.6% and climbing fast is the category Apple calls "iTunes, Software and Services."]
The good news for the axis of Apple's digital hub strategy is that the year-over-year declines the Mac suffered for MOREPhilip Elmer-DeWitt - Apr 19, 2014 5:26 AM ET
The analysts' estimates range from 15 million to nearly 22 million. Average: 19.3 million.
FORTUNE --Although the heyday of the iPad -- when it basically owned the tablet computer market -- may be over, the product line is still Apple's (AAPL) second most important source of revenue, holding steady at roughly 20% of total sales.
With growing competition and the rise of the phablet (mini-tablets that double as phones), nobody is expecting a repeat of MOREPhilip Elmer-DeWitt - Apr 18, 2014 6:57 AM ET
The analysts' estimates range from 34 million to nearly 43 million. Average: 38.2 million.
FORTUNE -- In the analysts' notes to investors leading up to Apple's (AAPL) quarterly earnings report next week, the iPhone is topic No. 1.
And with good reason. iPhone sales remain the company's single biggest source of revenue -- 52.6% of total revenues, to be specific, at this time last year.
In a note issued Wednesday, Bernstein's Toni Sacconaghi rattled off a list MOREPhilip Elmer-DeWitt - Apr 17, 2014 2:02 AM ET
Artificial intelligence-driven startup expands its robotics expertise, looks for new ways to expand ecosystem.
FORTUNE -- Anki Drive's toy-sized ecosystem just got bigger.
The San Francisco-based startup, which released its artificial intelligence-driven cars last October, unveiled two new tracks and two new cars Wednesday -- the first new hardware of any kind since launch.
Available for $100 starting May 6, Anki's new tracks offer new challenges for racers: "Crossroads" throws in a twist, MOREJP Mangalindan, Writer - Apr 16, 2014 3:21 PM ET
Remember those snarky TV spots mocking Apple customers waiting in line for an iPhone?
FORTUNE -- Here's an interesting sequence of events, buried between the lines of a Samsung e-mail trail that Apple (AAPL) entered into evidence as part of its big patent infringement suit, now in its third week.
-- Oct. 4, 2011: From Samsung's VP of U.S. sales Mike Pennington to Samsung America CEO Dale Sohn and chief marketing officer Todd Pendleton.
"As you have shared MOREPhilip Elmer-DeWitt - Apr 16, 2014 2:45 AM ET
Samsung's argument that Apple attacked the wrong company could resonate with the jury.
FORTUNE -- Watching Apple's (AAPL) patent infringement trial from afar -- today, it's from Prague -- I can't tell if the jury got as clear an explanation of where Apple's so-called "quick link" software came from as the one Daniel Eran Dilger posted Sunday on AppleInsider (How Samsung & Google teamed up to steal Apple Data Detectors for Android).
But reading Dilger's deep dive into the history of the technology I'm MOREPhilip Elmer-DeWitt - Apr 14, 2014 4:11 AM ET
The New York Times Op-Ed columnist does it again.
FORTUNE -- As I said the last time I wrote about him, I've met Joe Nocera and he seems like a nice guy.
He's had a distinguished career as a business journalist -- including more than a decade at Fortune -- he's done some first-rate work on Apple (AAPL). "The Second Coming of Steve Jobs," a profile for Esquire of the entrepreneur at age 31, may be the best MOREPhilip Elmer-DeWitt - Apr 13, 2014 5:12 AM ET
A "top secret" internal report shows Samsung sold half as many Galaxy Tabs as it claimed.
FORTUNE -- We were skeptical in January 2011 when Strategy Analytics reported -- based on a vague comment made to investors by a Samsung vice president -- that the company had already shipped 2 million Galaxy Tabs, reducing Apple's (AAPL) market share to 75% from 95% in less than six weeks.
Nearly two dozen news outlets went with the report, including MOREPhilip Elmer-DeWitt - Apr 11, 2014 6:08 AM ET
Second stop on a 5-city tour is a renovated century-old theater on a wide Berlin boulevard.
FORTUNE -- After Paris, the big Apple Store on the tree-lined Kurfürstendamm -- the wide boulevard that is Berlin's version of the Champs-Élysées -- was a bit of a shock.
The classical Greek revival facade, with its tall windows and inset Ionic columns, is even more imposing than its Parisian sister store's.
The shopping area inside, however, has none of the Opéra's old-world charm.
It's a huge space, with 43 MOREPhilip Elmer-DeWitt - Apr 11, 2014 2:54 AM ET
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