Top Stock: Apple (NASDAQ AAPL) Celebrates 6 Years Of App Store’s Success

This week, Apple Inc (NASDAQ AAPL) App Store celebrates 6 years. The popular iOS app store now offers about 1 million apps. Since its launch in 2008, Apple’s world of apps has transformed the entire world of apps.

Apple’s popular App Store turns 6 and the future of the digital download store looks brighter than ever. The App Store is so popular today that it’s almost hard to remember that Apple originally launched iPhone without it, initially only supporting built-in apps and web apps accessible via the browser.

Apple’s App Store, which made its debut on 10 July 2008, turned six years old on 10th July. The store was open to iPhone users a day after the release of iOS 2.0. Now, developers have discounted many of their apps to celebrate the sixth anniversary.

Apple Inc (NASDAQ AAPL): Apple App Store: The journey and the Future

Research analysts believes total app sales from the App Store could reach a total of $100 billion by 2020. It is an important to point out that app downloads only make a small percentage of the app economy. A larger segment included hardware, subscriptions, and services.

The App Store’s biggest competitor is Google Play, Android’s version of a media store. There are currently 1.2 mllion apps in the App Store and 1.5 millon in Google Play. This year, the number of app downloads from Google Play exceeded the number of App Store. This can be attributed to the emerging markets in Russia and Brazil. Not surprisingly, Apple makes more from the apps. In 2013, the platform generated over twice the revenue for developers. Apple customers are generally more affluent that Android customers and often have extra income to spend on apps.

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Apple Inc financial news (NASDAQ AAPL)

Six years after Steve Jobs relented and agreed to allow third-party developers native access to the iPhone, the App Store has grown into a cultural phenomenon that connects people, drives innovation, and supports more than a million families around the world. And while those companies scrambled to open new stores of their own, from Nokia’s Ovi to Palm’s revamped App Catalog for webOS to Microsoft’s Windows Phone Store to BlackBerry World, none achieved similar successes despite far larger installed bases of users.

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