Bank of America has released its latest App Store performance data, and observed that while revenue is growing faster than downloads, users are shifting they spend their money.According to the report (via ), which cited SensorTower data, global App Store revenue rose 12% year over year in June, while downloads were up just 4%.That widening gap suggests a positive shift in monetization, although users are reportedly increasingly spending more in non-gaming categories: Productivity is on the rise Bank of America said that Photo & Video, Lifestyle, Books, Education, and Utilities each gained about 100 basis points (or 1%) in share, while Productivity apps rose 200 basis points (or 2%), “marking the highest percentage change”.
According to Bank of America, that diversification could be a long-term win for Apple, especially as developers adjust by exploring new monetization strategies outside traditional gaming.As for the regulatory environment, particularly following the Epic Games case, Bank of America says it hasn’t seen any meaningful impact on App Store revenue to date.The firm also reiterated its Buy rating on Apple stock with a $235 price target, based on expectations of strong capital returns, leadership potential in on-device AI, and upside from future product categories.
This report comes just a week after JPMorgan cut Apple’s stock price target from $240 to $230 while keeping its overall rating at “Overweight”, suggesting optimism about the company’s longer-term roadmap.Does this data track with your App Store spending? Let us know in the comments.AirPods deals on Amazon AirPods Pro 2, USB-C Charging: 20% off at $199 AirPods (3rd Generation): 20% off at $134,99 AirPods 4, USB-C and Wireless Charging: 11% off at $158,99 AirPods 4 USB-C Charging: 8% off at $119 AirPods Max Wireless, USB-C Charging, Midnight: 13% off at $479.99 You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day.
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