Apple sets App Store sales record during holidays, despite disastrous quarter
In the wake of a historic stock price drop, Apple surprised investors with some good news on Thursday.
Customers helped Apple set an App Store sales record during the 2018 holiday season. This news comes just one day after the company lowered revenue expectations for its holiday quarter, resulting in a loss of $57 billionin market value.
According to Apple, App Store customers spent more than $1.22 billion on app and game downloads and subscription purchases between Christmas Eve and New Year’s Eve.
This is the most money ever spent in the App Store in a single week. In addition to the $1.22 billion record, Apple customers set a new single-day record. iPhone and iPad users spent more than $322 million on New Year’s Day.
Gaming and self-care categories took the lead in app downloads and subscriptions during the holiday week. Fortnite and PUBG were the most downloaded games over the seven-day span.
This new App Store record brought the company’s services revenue to an all-time record during the holiday season This includes services such as the App Store, iCloud, Apple Music, and Apple Pay.
The App Store’s holiday milestone provides Apple with a much needed positive story just one day after the company’s worst day in years.
On Wednesday, Apple halted stock tradingwhile CEO Tim Cook addressed investors with a letter lowering the iPhone maker’s quarterly revenue projections by $9 billion.
Cook pointed to lackluster iPhone salesand the U.S.-China trade war as reasons for the company’s lowered revenue expectations. Apple stock tanked after, with the company’s falling to fourth most valuable market share behind “most valuable” position other tech giants like Microsoft, Amazon, and Google.
However, this App Store news could also strengthen Apple’s defense to criticism when the company made the decision to no longer disclosethe number of units sold for its products like the iPhone. Apple claims that total sales numbers of its hardware no longer reflect how the company is doing. The Cupertino-based company argued that because there are already so many existing iPhone users, the sales numbers for its services, such as app downloads, are a much more accurate indicator.
With lower than expected iPhone sales cited as a reason for Apple’s fall from grace on Wednesday, the App Store’s record-breaking holiday performance may just put Apple’s argument to the test.
Featured Video For You
Apple patent filing has us excited about the new AirPods design
-
“精致小春姐”顾春芳:华丽白西装、镶钻水晶拖鞋,带来新兴凉果No.1Defectors in South Korea send anti去年广东96个省产业园规模以上工业增加值3328.6亿元丨2024广东两会Liverpool must improve European away form, warns Klopp20 Places to Eat Dumplings and Noodles for Lunar New YearWe guess you could display flowers in this suspiciously NSFW vaseUN sanctions exemption needed to recover war remains in NK: US officialHow 'Harry Potter' helped me understand British politicsKlarna CEO reveals plan to reduce workforce by 50% and replace it with AI想买房? 看看这些小技巧
- ·NASA rover snaps photo of its most daunting challenge yet
- ·US calls deepening NK
- ·Spotify lawsuits likely won't stop its big plans for 2018
- ·Samsung unveils massive 146
- ·First officially approved Gen IV nuclear reactor in the US breaks ground
- ·Inter keep pace with Juve, Pioli held on AC Milan debut
- ·Moon urged to foil Kim's 'sidelining' strategy
- ·石棉县人民法院转变窗口服务作风 贴心关爱特殊人群
- ·Yoon, US Senate's armed service committee chief discuss alliance, N.K. threats
- ·Controversy persists over suspected N. Korean coal shipments to S. Korea
- ·Seoul to brief UNSC this week on probe into NK coal shipment: official
- ·七人团伙四宗罪 最高获刑十三年
- ·Norris stuns Verstappen at Dutch GP
- ·Federer celebrates 1,500th match with Basel breeze
- ·$450 million lottery jackpot has a single, lucky winner in Florida
- ·N. Korea says Trump threat is 'sound of dog barking'
- ·广东超一半的北运淡水鱼来自这里!全链发力打响“南海鱼”金字招牌
- ·Photographer finds hidden beauty in seemingly ordinary park benches
- ·Peru, Mexico expel N. Korean diplomats
- ·Summertime sea surface temperatures in S. Korea rises by almost 3 years
- ·How to unblock Xnxx for free
- ·S. Korea seeking to extend aid to North despite provocations
- ·X threatens brands with lost verification if they don't cough up $1,000 a month
- ·Google adjusts privacy policy allowing use of public data for AI training
- ·Ruling bloc seeks tougher sentences for deepfake sex crimes
- ·How hot your iPhone or iPad can get before the battery is permanently damaged
- ·Haider all set for Paralympics Ceremony
- ·X threatens brands with lost verification if they don't cough up $1,000 a month
- ·Sanctions won't stop N. Korea provocations
- ·James Franco wouldn't let Tommy Wiseau steal his thunder at the Globes
- ·What to expect when a tech bubble bursts
- ·James Franco wouldn't let Tommy Wiseau steal his thunder at the Globes
- ·Rescue puppy's delightfully weird portraits scream 'adopt me'
- ·Inter keep pace with Juve, Pioli held on AC Milan debut
- ·[Herald Review] Tori Kelly thrills fans, hints her love for Korean artists
- ·Gwyneth Paltrow's Goop suggests you use coffee to clean your poop chute. Don't.