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Apple’s App Store growth is reaccelerating – Morgan Stanley

MacDailyNews

Feb 23

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Apple’s App Store revenue growth is accelerating in February, according to Morgan Stanley analyst Erik Woodring.

Woodring noted in a Monday research note that month-to-date net revenue is up 9% year-over-year — marking a 230 basis point (bps) acceleration from January’s pace, aided by an easier year-over-year comparison of 700 bps.

Woodring added that quarter-to-date revenue is now growing 7.5%, which trails the firm’s +8.0% year-over-year forecast for the full March quarter by just 50 bps.

Sam Boughedda for Investing.com:
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The bank said growth should remain on track as long as March follows its usual trend.
“March quarter App Store revenue would end the quarter in line with our +8% Y/Y forecast if March revenue grows in line with T3Y seasonal average of 10% M/M,” Woodring wrote.
The bank kept its March-quarter App Store growth and Services growth forecasts unchanged at 8 percent and 13.5 percent, respectively.
Morgan Stanley said the acceleration is broad-based across major markets. China’s App Store is growing 4 percent year-over-year after a decline in January, while the U.S. is rising 3 percent, a 40-basis-point improvement. Japan is down 1 percent, while the rest of the world is seeing 22 percent growth.
The analysts also cited rising Mac lead times, noting they have “quickly inflected to multi-year highs” due to demand for the on-device AI tool OpenClaw.

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MacDailyNews Take: More good news for Apple’s Mac and Services categories and, of course, for AAPL investors!

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