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Bank of America reported that Apple Inc.'s App Store revenue increased by 15% year-over-year for the first 64 days of the first quarter of fiscal year 2025, totaling $5.6 billion. The month of November alone saw a global revenue increase of 15.8%, with a notable 9% growth in China. Analyst Wamsi Mohan maintained a Buy rating on Apple stock, setting a price target of $256. Additionally, the report highlighted a 7.3% year-over-year increase in App Store dollars per download during this period, reflecting positive trends attributed to a multi-year iPhone upgrade cycle and strong cash flows.
$AAPL #BofA reports Apple’s App Store revenue rose 15% YoY for the first 64 days of Q1, reaching $5.6B. November saw a 15.8% global increase, including 9% growth in China.
BOFA $AAPL month of November, App store rev increased +15.8% y/y globally +9.0% y/y in China In F1Q25 saw app store dollars per download increase +7.3% y/y. Reit Buy as given multi-year iPhone upgrade cycle, tailwinds to gross margin, & strong cash flows. PT at $256
$AAPL | BofA reports Apple’s App Store revenue rose 15% YoY for the first 64 days of Q1, reaching $5.6B. November saw a 15.8% global increase, including 9% growth in China.