Apple, Inc. (NASDAQ:AAPL) is reportedly exploring a new addition to its Services business, underlining Cupertino's focus on this rapidly-growing unit.

What Happened: Apple has considered launching an Instacart-like service and has also discussed ways of differentiating it from the incumbent, Bloomberg columnist Mark Gurman reportedly said in reply to a reader query in his Power On weekly newsletter.

Instacart is a California-based company that offers grocery delivery and pick-up service in the U.S. and Canada through its website and mobile app. Since such services are low-margin businesses and highly unprofitable, Apple could exercise caution before dipping its heels into the arena, the Apple writer reportedly said.

Gurman expects Apple to integrate the Instacart-like service to nutrition data in its Health app for deepening nutrition tracking.

The two service offerings Apple could announce in the near term are an iPhone hardware subscription and a "buy now, pay later" financing feature for Apple Pay, he added.

Apple closed Friday's session 0.47% higher at $157.28, according to Benzinga Pro data.

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