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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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Apple users may spend more on non-gaming mobile apps by 2024 - report

02/22/2021 | 04:13pm EST
FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in New York

(Reuters) - Apple Inc's customers may end up spending more on non-gaming mobile apps by 2024, data analytics firm SensorTower said on Monday, as lockdown lifestyles result in users looking beyond games to apps that help with more essential services.

Downloads of business, education, health and fitness apps have seen a sharp spike due to the stay-at-home measures during the health crisis.

During the initial days of the pandemic, users spent more on mobile games in the App Store. But as lockdowns got extended, upending work life as well as the ways of communication, their attention shifted to photo and video-sharing, dating, video-conferencing and instant messaging apps.

Shares of companies such as Zoom Video Communications Inc and Match Group and other stay-at-home companies soared last year.

SensorTower said consumer spending on mobile apps will reach $270 billion in the next five years globally, a more than three-fold increase when compared with 2020.

Apple customers will outspend their Android counterparts with the App Store expected to generate $185 billion in global revenue, the data analytics firm said.

Games revenue will continue to take a relatively higher share on Google Play store than the App Store, with a projected 71% share from games in 2025 compared to 42% on the App Store, data showed.

The data analytics firm expects Europe to become a key market over the next five years, with revenue growth in the continent likely to outpace that in Asia and North America.

Downloads in Europe are expected to grow to 36.9 billion by 2025, compared with 28.4 billion in 2020, while revenue growth is expected to more than double to $42 billion in the next five years.

(Reporting by Eva Mathews and Subrat Patnaik in Bengaluru; Editing by Arun Koyyur)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.15% 2083.81 Delayed Quote.19.18%
APPLE INC. -0.41% 125.35 Delayed Quote.-5.04%
FACEBOOK INC -0.58% 264.31 Delayed Quote.-4.70%
MATCH GROUP, INC. -0.33% 160.79 Delayed Quote.3.65%
ZOOM VIDEO COMMUNICATIONS, INC. -0.75% 385.23 Delayed Quote.16.90%
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Financials (USD)
Sales 2021 333 B - -
Net income 2021 74 750 M - -
Net cash 2021 58 731 M - -
P/E ratio 2021 28,3x
Yield 2021 0,68%
Capitalization 2 104 B 2 104 B -
EV / Sales 2021 6,13x
EV / Sales 2022 5,87x
Nbr of Employees 147 000
Free-Float 99,9%
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Technical analysis trends APPLE INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 149,33 $
Last Close Price 125,35 $
Spread / Highest target 39,6%
Spread / Average Target 19,1%
Spread / Lowest Target -33,8%
EPS Revisions
Managers and Directors
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
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