On December 6, Katy Huberty, chief analyst at Morgan Stanley, the US investment bank, said Apple’s services business would continue to grow at double-digit rates in the fourth quarter, driven by the iPhone 12 and new interactive initiatives. In a note to investors, hubertie wrote that while investors are focused on the performance of the iPhone 12 series, there are other factors contributing to the growth of the services business. First, Apple’s services business continued to perform better than expected. Second, the number of iPhone 12 and iPhone 12 Pro upgrades, as well as the growing user base, have enhanced the potential for rapid growth of the service business. < / P > < p > hubertie admits that the growth of the service business is difficult to determine by 2021. But she stressed that Apple’s small business projects in the app store, as well as efforts to promote app discovery by hiring former venture capitalist Josh Elman, show that apple is continuing to work to drive user engagement. The analyst also pointed out that she believes there is a direct relationship between the price iPhone users pay for their devices and the average price per use of Apple’s services. This shows that users can upgrade to 5g faster than expected, especially the performance of iPhone 12 pro and iPhone 12 Pro max, which will stimulate the growth of service business. According to data compiled by sensor tower, a market research firm, Apple’s net revenue in November rose 32% year-on-year to $1.84 billion. This is a percentage point faster than the growth rate of the previous month. < / P > < p > Apple’s top 10 markets grew at least 23%, accounting for 88% of Apple’s App Store revenue. In the top ten markets, about eight markets grew by more than 34%, and the other two regions still had better month on month growth.
Europe’s new novel coronavirus pneumonia blockade also seems to trigger an increase in App Store spending. Game apps are one of the biggest revenue sources for Apple’s app store, with a year-on-year increase of 150 basis points in November to 27%. This segment accounted for 50% of the total year-on-year growth in the app store, while the other nine largest categories of apps all grew at least 14%. < p > < p > hubertie wrote that net revenue from Apple’s App Store rose 31% year-on-year compared with the previous quarter, exceeding her forecast of 27.5% growth in the fourth quarter. Even if Apple’s App Store revenue grew by only 21% in December, it will meet analysts’ average expectations. < / P > < p > hubertie wrote: “if the year-on-year growth of the app store in December remains above 30%, this means that the expectation of a 15.4% year-on-year increase in fourth quarter service business revenue will be at least $144 million, or 110 basis points, if other conditions remain unchanged.” Hubertie did not change Apple’s target price of $136 over the next 12 months. Chinese version of K-car: reading a10e design drawing exposure