Apple App Store revenue growth slows in December: Evercore By

© Reuters.

By Sam Boughedda – Apple Inc (NASDAQ 🙂 App Store revenue growth slowed in December, according to Amit Daryanani, analyst at Evercore ISI.

In a research note, Daryanani estimated that the company’s app store revenue slowed to a growth rate of 9% in the last month of the year.

According to TheFly, the analyst expected segment growth to slow in Q4 2021 and Q1 2022. However, the 9% estimate is lower than his original 10-15% growth forecast for December. . Daryanani said December marked “the first month of single-digit growth for the App Store in the past 10 years.”

However, he warned investors not to look too hard at the one-month data, noting that revenue had increased 20% for the year. As a result, Daryanani maintained an outperformance rating and a target price of $ 200 on the stock.

Wedbush analyst Daniel Ives, who recently said demand for the iPhone was strong, said the company reach a valuation of 3 trillion dollars was a “flex the muscle moment” for Cook & Co. “

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