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Morgan Stanley Likes the Worldwide View of Apple’s App Store

Morgan Stanley Likes the Worldwide View of Apple’s App Store

04 MAY 2022 - While Wedbush analyst Daniel Ives is turned on by Apple products, Morgan Stanley analyst Katy Huberty is stoked over what she’s seeing in the App Store. Apple Insider has had a look at a note she wrote. Citing the latest Sensor Tower estimates, Huberty says App Store revenue was up 8% last month versus April of 2021. While that growth is said to be slower than expected, the analyst sees a lot to like. “In China,” says Apple Insider:

…App Store net revenue growth accelerated from 1% year-over-year in the first quarter to 11% year-over-year in April. That's despite a more challenging year-over-year compare, and is likely because of a new wave of Covid-19 lockdowns in the country.

yay… 

Japan and South Korea are also looking better year-on-year, according to her note. The way Huberty sees it:

The improved positioning in these regions more than offset weaker growth in the US, where App Store net revenue growth decelerated 3 points from March to 6% Y/Y in April, even off an 18 point easier compare… ,” the analyst writes.

She’s still expecting App Store revenue growth of 15% for the June-quarter, versus the same quarter a year ago. Huberty has a positive rating on Apple shares. Her price target on the shares is $195.

Wedbush Still Wedbullish on Apple Despite Tech Sector Trouncing

Wedbush Still Wedbullish on Apple Despite Tech Sector Trouncing

Developments for Developers

Developments for Developers