Apple's App Store Revenue Declines
On Thursday, analysts of BofA Securities published a note indicating that Apple's shares still have a neutral rating and the $160 price target. Investors announced that App Store revenues declined in comparison with the previous year.
Analysts suppose the global revenue of the App Store in the first quarter fell to $2.4 billion (SensorTower data) in annual terms, and the number of downloads for Apple gadgets increased by 2%.
They think that the recent growth of prices for applications in several regions will partially compensate for the fall of the App Store’s revenues. The overall level of demand decline continues to rouse concern.
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