aapl, nasdaq:aapl, Apple Inc. (NASDAQ:AAPL), ipad, iphone 7, news, latest, live, trading

Apple on Wednesday said a dizzying $1.8 billion was spent on digital goods and services at its App Store between Christmas Eve and the end of December.

Word of the stellar holiday week at the exclusive gateway onto Apple devices comes as the iPhone maker defends itself against concerns that its control over the App Store is monopolistic.

apple
Thai people wearing face masks walk in a overhead bridge in Bangkok, Thailand, Wednesday, Jan. 29, 2020. Tourism Council of Thailand said Tuesday that new coronavirus outbreak estimated to cost 50 billion Bhat (1,613,892 US Dollars) in lost tourism income for Thailand’s economy due to China’s blanket ban on tourists leaving its effected cities. (AP Photo/Gemunu Amarasinghe)

“Now more than ever before, customers around the world have found inspiration and value in the breadth and quality of Apple services, which have impacted their lives in big and small ways every day, Apple senior vice president of internet software and services Eddy Cue said in a blog post.

“We’re incredibly optimistic about where we’re headed, and we believe that the opportunities for developers and the creative community are endless, as are the positive and meaningful benefits to our customers.”

Videoconferencing app Zoom and the Disney+ app for the entertainment giant’s streaming television service were listed among the most downloaded apps at the App Store last year, as the pandemic had people tending to work, play, and education from home.

App Store revenue during the holiday week was driven strongly by games, with hot titles including “Among Us” and “Roblox,” the Cupertino-based company said.

App Store sales set a new single-day record of over $540 million on New Years Day, according to Apple.

“Apps have become more essential than ever,” Apple said in the post.

“Developers found new ways to keep people connected, help them learn and work from home, stay fit and well, and provide much-needed entertainment.”

Developers have earned more than $200 billion at the App Store since it launched 12 years ago, according to Apple.

But Apple’s policies have been coming under increasing scrutiny.

The news comes with Apple and the developer of the blockbuster game Fortnite, Epic Games, fighting in court over whether the California-based company’s tight control of its App Store.

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.