Apple Inc. said that Apple users spent a record amount of $1.4 billion in their App Store during the end of 2019.
Apple users spent record $1.4 bn on App Store in final days of 2019
With this the Apple stock rose 1.6% and increased their profits to 92% in a year. Even though the iPhone growth has been slow, Apple were able to generate more revenue with its apps and products such as AirPods.
Gene Munster, a veteran Apple analyst and founder of Loup Ventures, said the App Store data are more evidence that Appleâ€™s services expansion isnâ€™t directly linked to iPhone sales.
On the first day of 2020, a single-day record was made with customers spending 386 million dollars on the App Store. Apple revealed that there was an 20% increase than last year.