Apple Inc. (NASDAQ:AAPL) had a busy week with a series of events that could potentially impact the company’s future. Here’s a quick recap of the latest news surrounding the tech giant.
Apple’s App Store Revenue Jumps 10%
Apple’s App Store revenue soared by 10% in the September quarter, reaching $8.7 billion. The growth was accompanied by a 2.5% rise in downloads, which reached 9 billion. The company also witnessed a shift in revenue mix, with categories like Productivity and Photo & Video showing steady growth. This trend indicates a long-term demand for AI-powered apps.
Analyst Timothy Arcuri believes that the App Store’s strong performance is a sign of Apple’s potential for future growth. Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) also experienced a 10% increase in its app store revenue.
Read the full article here.
Apple Purges ICE Tracking Apps After Pam Bondi’s Warning
Apple removed all apps that allowed users to track and report the location of Immigration and Customs Enforcement (ICE) officers from its App Store. The app, ICEBlock, was developed in April and allowed users to track the location of ICE officers and receive notifications if they were within a five-mile radius.
Apple decided to remove the app and similar ones from the App Store due to safety risks. This decision followed a warning from former Florida Attorney General Pam Bondi, who called the tracking apps a “red line that cannot be crossed.”
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Gene Munster Says Vision Pro Looks Like iPhone-Maker’s Biggest Miss Since Newton
Apple reportedly paused work on a cheaper Vision Pro headset to focus on smart glasses development. Bloomberg’s Mark Gurman reported that Apple brought the development of its lighter, cheaper Vision Pro model to a stop. This model was slated for release in 2027.
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Analyst Gene Munster believes that this move could be Apple’s biggest miss since the Newton. However, he also predicts that Apple’s push will deliver glasses that likely outshine those of Meta Platforms Inc. (NASDAQ:META).
Read the full article here.
iPhone 17 Outsells On Speed, Not AI Hype: Analyst
Apple is experiencing strong momentum for its iPhone 17 Series, driven by loyal users upgrading to premium models. The sustained demand for high-end devices and steady growth in wearables and services underscore the company’s resilience.
Despite shifting consumer priorities and global risks, JPMorgan’s latest annual consumer survey indicates a strong upgrade cycle for the iPhone 17 Series, with existing iPhone users driving volumes. However, interest from Android switchers is softer compared to last year.
Read the full article here.
What Happened: Apple Hit With Federal Lawsuit Over Store Manager’s Harassment Of Jewish Employee
Apple Inc. is facing a federal lawsuit after a U.S. agency accused the company of religious discrimination and retaliation against a Jewish employee who says he was harassed and ultimately fired.
Despite the decline, the stock is still up 4.42% year-to-date. On Tuesday, the Equal Employment Opportunity Commission filed the complaint in the Alexandria, Virginia, federal court.
Read the full article here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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