“Google this week announced a number of new products and services for phones, tablets, cars, TVs and more, all of which will compete with Apple. But after seeing Google’s latest, Apple-watchers on Wall Street aren’t concerned,” Neil Hughes reports for AppleInsider.
“During its keynote presentation this week, Google revealed that it has paid $5 billion to Android application developers over the last 12 months. Analyst Timothy Acuri of Cowen and Company issued a note to investors on Thursday, a copy of which was provided to AppleInsider, saying the amount Google paid to developers in the last year shows that Apple’s ecosystem continues to generate more money for developers,” Hughes reports. “Acuri noted that Apple paid out around $8 billion to developers in calendar year 2013, and that was about 100 percent year over year growth from 2012. With iPhone sales continuing to grow and the installed base of users larger than ever, he believes developer revenue growth has continued into the first half of 2014.”
“If App Store purchases have grown at the same rate thus far in 2014 as they did in 2013, that would imply that Apple is still generating twice the aggregate trailing 12 months revenue as the Google Play Store. This despite what Acuri estimates is an installed base about half the size of Android’s current monthly active users,” Hughes reports. “Acuri remains bullish on AAPL stock with a price target of $102. ‘We expect Apple’s ecosystem to remain the dominant platform for developers for the foreseeable future,’ he wrote.”
Read more in the full article here.
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