The Clap
Apple’s (NASDAQ: AAPL) App Store revenue declined around 5% in September 2022, the steepest drop since 2015.
The Deets
The biggest driver for the decline in revenues was gaming revenue, declining 14% alone. High inflation has potentially driven consumer demand down for App Store apps.
Why this Matters
Apple aims to increase after-sales service revenue, as the segment has become key for investors.
Analysts expect to see a similar drop in revenue from the Google Play store on Androids as well.
What Now
Apple’s service revenue is expected to increase by 8% in Q4 2022.
Apple App Store losing interest 📱
