Apple Inc. (NASDAQ:AAPL): This Is Huge for AAPL Stock
- Buz Investors Huge for AAPL Stock (NASDAQ:AAPL) stock had a tough 2016, but things seem to be looking up in one of the company’s business segments. Apple stock was an underperformer last year, but things could change for AAPL stock in 2017.
- Apple Inc. released a note on Thursday saying that its “App Store” shattered records on New Year’s Day. Customer purchases touched $240.0 million, which made January 1, 2017 the App Store’s busiest day ever.
- The app developers earned $20.0 billion in 2016, up 40% from 2015. Since the App Store launched in 2008, developers have earned over $60.0 billion. (Source: “App Store shatters records on New Year’s Day,” Apple Inc., January 5, 2017.)
Huge for AAPL Stock
Huge for AAPL Stock The news of a record-breaking holiday season and breakout app hits is a breath of fresh air for AAPL stock, as it has been under pressure from the news of reduced “iPhone” production.
Apple’s Senior Vice President of Worldwide Marketing, Philip Schiller, said, “2016 was a record-shattering year for the App Store, generating $20 billion for developers, and 2017 is off to a great start with January 1 as the single biggest day ever on the App Store.”
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Huge for AAPL Stock
Apple’s top-grossing apps included the games Monster Strike, Fantasy Westward, Clash Royale, and Pokémon Go.
One of the top Apple stock analysts, Gene Munster, had already talked about the potential of “Apple Services” in his last research note in December. He was bullish on AAPL stock and maintained an “overweight” rating as the company makes its transition into a services company. Munster was confident that the Apple management team would figure out the best path to optimize the “Apple Services” story.
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