1 Reason Investors Should Love Apple Stock
Buried in a press release from Apple (NASDAQ: AAPL) earlier this week was a reminder of why the company is likely a great long-term investment. In a post about its services business, Apple said the tech giant has now paid developers an incredible $260 billion since the app store launched in 2008. But here's what's especially staggering about this figure: a whopping $60 billion of this sum was paid out in 2021 alone. Apple's services business, which earns the bulk of its revenue from the tech company's cut of App Store billings, is obviously thriving.
"Apps and games [in the App Store] have become the essential source for the world's most innovative and timely entertainment," Apple said in a press release this week.
Image source: Apple.
Source Fool.com
