--- title: "Evercore raises Apple to $325: December App Store revenue stabilizes, strong growth in non-gaming business" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/271612456.md" description: "Evercore ISI analyst Amit Daryanani has upgraded Apple's rating to \"Outperform\" with a target price of $325. Although game revenue in the App Store declined by 4% year-on-year in December, overall revenue achieved a growth of 6%, with strong performance in non-gaming businesses, as music, photo, and video services grew by 15% and 18%, respectively. The U.S. market grew by 3% year-on-year, while the Chinese and Japanese markets declined by 5% and 3%, respectively. Daryanani pointed out that the weakness in the gaming business remains a key obstacle to overall development, but improvements are expected in the first quarter of 2026" datetime: "2026-01-06T06:51:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/271612456.md) - [en](https://longbridge.com/en/news/271612456.md) - [zh-HK](https://longbridge.com/zh-HK/news/271612456.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/271612456.md) | [English](https://longbridge.com/en/news/271612456.md) # Evercore raises Apple to $325: December App Store revenue stabilizes, strong growth in non-gaming business According to the Zhitong Finance APP, investment company Evercore ISI stated that although the gaming sector remains weak, revenue from the Apple App Store seems to have stabilized in December. Analyst Amit Daryanani rated Apple (AAPL.US) as "Outperform" with a target price of $325. Daryanani noted that revenue from the Apple App Store in December achieved a year-on-year growth of 6%. Despite a decline in revenue from gaming applications during the month, which fell by 4% year-on-year (compared to a 2% decline in November), this change is still worth close attention given that gaming applications are the largest source of revenue for the Apple App Store, accounting for about 44%. Daryanani further added that the gaming markets in China and Japan performed poorly, with revenues declining by 13% and 15% year-on-year, respectively. He further pointed out that the music business and photo and video services performed strongly, with revenues growing by 15% and 18% year-on-year, respectively. Meanwhile, the social networking business also showed growth, with an increase of 11%; the entertainment business also saw growth, with a year-on-year increase of 3%. By region, the U.S. saw a year-on-year growth of 3%, while China and Japan experienced declines of 5% and 3%, respectively. In his analysis, Daryanani wrote: "Currently, the gaming business is underperforming, particularly in the Chinese and Japanese markets, which remains a key factor hindering overall business development. However, expectations suggest that the overall performance of the gaming business is likely to improve in the first quarter of 2026." "We continue to estimate that App Store revenue accounts for about 20% of total service revenue. Apple has the ability to compensate for the weak growth in the gaming business with faster-growing areas such as Apple Pay, iCloud, and licensing businesses. This is similar to the situation presented in the fourth quarter of fiscal year 2025, when there was about a 4% gap between App Store revenue and the reported overall growth of service business." ### 相關股票 - [Apple (AAPL.US)](https://longbridge.com/zh-HK/quote/AAPL.US.md) - [GraniteShares 2x Long AAPL Daily ETF (AAPB.US)](https://longbridge.com/zh-HK/quote/AAPB.US.md) - [Direxion Daily AAPL Bear 1x Shares (AAPD.US)](https://longbridge.com/zh-HK/quote/AAPD.US.md) - [Direxion Daily AAPL Bull 2X Shares (AAPU.US)](https://longbridge.com/zh-HK/quote/AAPU.US.md) - [T-Rex 2X Long Apple Daily Target ETF (AAPX.US)](https://longbridge.com/zh-HK/quote/AAPX.US.md) - [Kurv Yield Premium Strategy Apple Aapl ETF (AAPY.US)](https://longbridge.com/zh-HK/quote/AAPY.US.md) - [YieldMax AAPL Option Income Strategy ETF (APLY.US)](https://longbridge.com/zh-HK/quote/APLY.US.md) ## 相關資訊與研究 - [Apple Intelligence briefly appears in Chinese mainland before withdrawal](https://longbridge.com/zh-HK/news/281116116.md) - [Baker Tilly Wealth Management LLC Has $7.69 Million Stock Holdings in Apple Inc. $AAPL](https://longbridge.com/zh-HK/news/280900022.md) - [East Side Games Group Shifts From Aggressive Growth to Profitability After Challenging 2025](https://longbridge.com/zh-HK/news/281274674.md) - [Scotiabank Says Markets Play The "Waiting Game"](https://longbridge.com/zh-HK/news/280471750.md) - [Indie Pass is a new subscription service just for indie games](https://longbridge.com/zh-HK/news/281538730.md)