Apple App Store revenue surged 11%, Bank of America bullish to $230 USD

Apple's App Store revenue grew by 11% in the third quarter, reaching $5.4 billion. Game revenue accounted for 52% of total revenue, slightly lower than the same period last year, but still the largest source of revenue in the App Store. Other categories such as entertainment, photos and videos, social networking, and music also performed well. In the Chinese market, game revenue saw a slight decline, while entertainment revenue achieved a 20% year-on-year growth. In the European market, Apple faces challenges from the "Digital Markets Act," but total downloads increased by 3% year-on-year, and App Store revenue grew by 25% year-on-year. Overall, Apple has the potential for margin improvement and long-term service growth, with a positive outlook