According to SensorTower, “on average, Apple generated over a billion dollars a week from the half billion plus people visiting its App Store every week in 2019, the latest data shows,” Jonny Evans for Computerworld:
That’s $54.2 billion in the year.
User spending at the App Store climbed 16% y-o-y from $47 billion in 2018.
The trend isn’t merely visible on Apple’s App Store, even Google Play also saw increased revenues – despite which the sum generated by iOS was 85 percent greater than the $29.3 billion spent on Google Play.
MacDailyNews Take: $54.2 billion. To put this into context, last year Apple’s App Store generated more revenue than Pfizer ($53.647 billion)!
That’s not enough for greedy big investors. Apple needs to double that figure this year or Apple is doomed. More revenue is needed for Apple to keep a P/E of 26+ even though other tech stocks are easily given that valuation with far less revenue. A billion dollars a week in revenue is no small potatoes for any company. /s
I don’t think Amazon Web Services generates that much revenue a week despite it’s constant praise. Last year, in the third quarter AWS generated $9B in revenue. Unfortunately for Apple, Wall Street values growth far more than actual revenue, so Amazon is definitely being valued for growth. Actually, AWS growth is said to be slowing due to competition, so I’m not sure how long that double-digit growth will last. Only time will tell. However, Amazon’s P/E of 83 is rather high compared to Apple’s P/E of 26. No complaints from me as I’m getting Apple’s dividends and Amazon offers no dividends.
You really think that “Only time will tell?” Lol