Apple's App Store rebounding thanks to resurgence in China, says analyst
What you need to know
- App Store revenue rebounded strongly in the month of July.
- That was primarily due to a boost in China by 20% year to year.
- Stanley Morgan believes this momentum will continue moving forward.
The App Store is seeing a strong rebound revenue-wise for the month of July and that is in large part due to a resurgence in China. According to a research note by Morgan Stanley's Katy Huberty (via AppleInsider), growth in China pushed revenue growth by 19% in the month of July.
Revenue slightly dipped in June, which Morgan Stanley attributed to the ongoing trade war between the U.S. and China. However, revenue picked back up by 19% in July thanks to 21% growth year-to-year in China. Morgan Stanley now attributes the June slow down to a dip in gaming licenses.
The 21% revenue growth in China is particularly impressive considering the previous month only offered 1% growth. Alongside China, the U.S. and Taiwan also contributed to the robust July month for the App Store.
Moving forward, the App Store should continue a health pace as a mobile games continue to thrive.
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