Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

iPhone App Revenue: Global App Revenue Continues to Grow, Thank the Apple iPhone

iPhone App Revenue: Despite the fact that Apple Inc. (NASDAQ:AAPL) may not own as much of the mobile phone market share as it would like, there is one thing that will never change: the Cupertino-based company is responsible for the growth of the global app market.

Apple is actually the smart money’s second favorite publicly traded company (see why it’s important to pay attention to hedge fund activity).

This industry is doing big things, and it is safe to say that things are going to stay this way well into the future.

Steve JobsIt has been just about five years since Apple Inc. (NASDAQ:AAPL) got things started. This is often times hard to believe when you consider how far things have come in a relatively short period of time. For example, both Apple and Google have an app store with more than 700,000 each.

According to a story in the Wall Street Journal, app revenue is taking off:

“With so many apps to choose from, consumers are estimated to spend on average about two hours a day with apps. Global revenue from app stores is expected to rise 62% this year to $25 billion, according to Gartner Inc.”

AppleInsider took things one step further by analyzing additional data reported by Gartner, Inc. They found that there is “some churn in the app market as well, with 63 percent of daily used apps being different from daily used apps from a year ago.”

In other words, it appears that a lot of people are chasing after the next big thing. The apps they use today are not going to be the same ones they use tomorrow.

Five years ago, it would have been hard to imagine that global app revenue would be closing in on $25 billion. However, this is the direction the industry has gone and continues to head.

What are your thoughts on this? Do you think Apple Inc. (NASDAQ:AAPL) is well positioned to take advantage moving forward? Share your thoughts in the comment section below.

Check back here for more updates on iPhone App Revenue.

DISCLOSURE: I have no positions in any stock mentioned.

For more news stories, visit the following pages:

Apple Inc. CEO Tim Cook Discusses Falling Share Price

Adobe Photoshop Touch for Phone for Apple Inc. Devices

Top Quotes from Apple Inc. Q&A Session with CEO at Shareholder Meeting

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.