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.”
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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