Morgan Stanley analysts say that Apple’s App Store is seeing high revenue growth this quarter along with predicting the launch of a 16-inch MacBook Pro and new iPad Pro models at the September iPhone event on Tuesday.
Basing opinions on Sensor Tower data, Morgan Stanley notes to investors seen by AppleInsider suggest… net revenue for the App Store grew 25.8% year-on-year in August, up from the 18.9% year-on-year comparison for July, making it the strongest since February 2018, and the third-largest month-to-month acceleration in year-on-year growth since early 2015… For China, total App Store spending increased 31.8% year-on-year, an acceleration from two months ago, which saw just 4.8% annual growth. Total gaming revenue in China grew 29.1% year-on-year, up from 215 in July and 1% in June, due to the Chinese government starting to issue gaming licenses to companies after a year-long suspension.
As for Apple’s September 10 event, Morgan Stanley offers the expectation of three iPhones being unveiled, complete with triple-camera setups, bilateral wireless charging, an A13 processor, multi-angle Face ID, and improved water resistance. There could be a refreshed iPad Pro with an upgraded camera and other spec bumps, an updated MacBook Pro with a larger 16-inch display, and the Series 5 Apple Watch.
MacDailyNews Take: Good news for the App Store (and more good news for for Apple’s services business), but that seems like a lot for on event. Apple, wary of diluting their iPhone message (especially in this placeholder year ahead of the 5G super cycle), may opt for a second event in October to unveil other non-iPhone hardware and services.