SEEDS OF APPLE’S NEW GROWTH IN MOBILE PAYMENTS, 800 MILLION ITUNE ACCOUNTS $AAPL $FB $TWTR
During Apple’s (AAPL) earnings conference call on Wednesday, it was revealed that Apple now has about 800 million iTunes accounts. CEO Tim Cook described it as “staggering.” This is an impressive achievement considering that at the end of the June 2013 quarter iTunes had 575 million accounts.
Cook stated that there have been 70 billion app downloads from iTunes. During the last quarter alone, there were about 5 billion downloads that resulted in total purchases of $5.2 billion.
The 800 million iTune accounts are the next gold mine for Apple. Cook recognizes the potential and during the previous quarter’s conference call he indicated interest in mobile payments. … Please click here or the title below to read more.