Analyst Sees Apple App Store Revenue Up Double Digits So Far This Quarter. Is the Stock Poised to Rally?

(NASDAQ: AAPL) has had some issues recently, as evidenced by its most recent quarterly results. The company saw its total revenue fall 4% as iPhone sales sank 10%.

However, one bright spot for the company has been its service revenue, which includes its App Store and Apple TV. Service revenue rose 14% last quarter and that momentum appears to be continuing with one Wall Street analyst recently saying the company's App Store revenue was tracking up double digits so far this quarter.

Let's take a closer look at the analyst's comments and what continued strength with its App Store could mean for Apple's stock moving forward.

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Source Fool.com