Apple's App Store Booms As ChatGPT, Productivity Apps Drive Revenue Growth, Analyst Says

BofA Securities analyst Wamsi Mohan reiterated a Buy rating on Apple Inc (NASDAQ:AAPL) with a price target of $265.

As per SensorTower data, App Store revenues in the second quarter of fiscal 2025 (after 36 days) increased to $3.4 billion (+17%, according to data on developer revenue from SensorTower), with total downloads (iPhone + iPad) +6.5% (3.7 billion) during the same period. For January, App store revenue increased by +18% globally and +17% in China.

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In the second quarter of fiscal 2025 (after 36 days), Mohan noted an increase of app store dollars per download by +9.8%.

The rerating reflects stable cash flows, earnings resiliency and potential beneficiary of AI use on ...

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