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 Apple’s services expansion isn’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.