Glonghui, March 12 | Bank of America Securities released a report stating that SensorTower data shows that Apple App Store (App Store) revenue increased 8.4% year-on-year to US$5.2 billion on the 66th day from the second quarter of fiscal year 2024, and total downloads (iPhone and iPad) increased 1.2% year-on-year. Apple App Store's global game revenue increased 3% year over year to US$2.8 billion, accounting for only 54% of total App Store revenue, compared to 57% a year ago. In February alone, global App Store revenue increased 15% year over year, and Chinese market revenue increased 10% year over year. The bank maintains a “buy” rating for Apple, with a target price of $225, which it believes will help drive the iPhone cycle under generative artificial intelligence (GenAI), strong service growth, and gross profit expansion.