Apple Stock (NASDAQ:AAPL)
On Tuesday, Apple (NASDAQ:AAPL) fell by 2% after a new report said that the firm is facing some downturn in sales from its renowned App Store.
Wamsi Mohan, an analyst at Morgan Stanley, quoted a study from Sensor Tower, a researcher in the app business, which said that sales at Apple’s App Store in the three months that ended on October 30 were $2.4 billion, which was a 4% decrease from the same time a year earlier. On the other hand, Mohan said that the data from Sensor Tower reveals that the overall number of App Store downloads for both iPhones and iPads increased by 2% year over year.
Mohan observed that the United States and China contributed jointly to more than half of the money generated by the App Store during the period under consideration, with the United States being responsible for 33% of sales and China contributing 26% of the store’s revenue.
Apple does not provide a breakdown of the money it receives from sales made via the App Store. Apple’s services division is the one that is most likely to be included in the acquisition. In Apple’s most recent fiscal fourth quarter, the services company brought in revenues of $19.2 billion.
According to Mohan, one of the findings from Sensor Tower that stuck out was that income from the App Store in China had dropped by 3% in October compared to the same month the previous year. Mohan also said that a slower speed of applications for gaming licenses and a more significant percentage of unemployment among Chinese youngsters were likely to blame for the decrease in gaming income coming from China.
Following the release of its quarterly results, which were driven by sales of iPhones and services, Apple stock received a lift on Wall Street the week before last.
Featured Image- Pixabay @ 652234
Author Shariq Khan 
