Apple sees rising App Store, services sales ahead of quarterly results

seekingalpha2022-01-19

ymgerman/iStock Editorial via Getty Images Apple's (NASDAQ:AAPL) App Store, the key to so much of the company's services business success, is continuing to show strong performance in revenue and app...

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That's the opinion of Bank of America analyst Wamsi Mohan, who on Wednesday said that industry data from researcher SensorTower suggests Apple (AAPL) brought in $6.4 billion in App Store revenue during its 2022 fiscal first quarter, which covers the final three months of 2021. Mohan said those sales represent a 12% increase over the same period in 2020. Mohan also said the data shows 8.2 billion App Store downloads during the quarter, up 5.5% on a year-over-year basis. With regards to where App Store revenue coming from, Mohan said the United States accounted for 31% of such sales during the just-completed quarter. China came in second place, with 25% of App Store sales during the period. Mohan said services, which trail only the iPhone in terms of Apple's (AAPL) sales, appear to have grown 22% in the company's first quarter. However, Mohan said services sales growth rates are likely to decline slightly in through the first half of this year as services such at Apple TV+ and Fitness+ subscriptions \"scales in user content and features.\" Apple (AAPL) shares were down slightly in Wednesday's stock market session. The company's market cap is down by more than $200 billion since it became the first company ever to reach a $3 trillion valuation earlier this month.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2204059437"}