Apple’s App Store Revenues in Decline, Says Analyst
October 03 2022 - 12:25PM
TipRanks
Apple's (NASDAQ: AAPL) App Store's net revenue declined 5%
year-over-year in the month of September, according to Morgan
Stanley analyst Erik Woodring. The analyst cited data from Sensor
Tower and stated that this drop in revenues was "the worst decline
in the history of the data." Woordring commented, "Compared to the
month of August, net revenue growth decelerated across all of the
App Store's 10 largest markets (which make up 87% of App Store
spend), except for China, Taiwan, and South Korea." By the
analyst's estimate, Apple's total App Store net revenue was $6.4
billion, down 2.1% year-over-year.
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