Apple Inc. (NASDAQ:AAPL) has revealed that the month of July was a record-breaking month for its Apple App Store, Julia Boorstin reported on CNBC.
The rare performance update from Apple Inc. (NASDAQ:AAPL) comes after the Cupertino, California-based giant just recently reported its performance for the most recent quarter.
According to Boorstin, Apple Inc. (NASDAQ:AAPL) has told her that July was a monumental month for its App Store when looking at revenue and customer transactions. Boorstin added that the last time the company divulged data about its App Store was in January this year.
“Apple tells me that July was a record-setting month for the App Store both in terms of revenue and the number of customers making transactions on the store. Most of the last time and only other time Apple has called out after transactions was in January when they said that in December, there were over a billion dollars in transactions. So [there is]another milestone, record-breaking month in July,” Boorstin reported.
Aside from reporting on Apple Inc. (NASDAQ:AAPL) having a great month in July for its App Store, host Melissa Lee also discussed with the Fast Money traders how to trade the company’s stock given recent developments.
According to the team, Apple Inc. (NASDAQ:AAPL) is now considered a bit under the radar because it is not being talked as much as before. They said that they think the stock is consolidated and can be bought in front of a new product launch. Furthermore, the team noted that the consensus on the Street that the stock will hit $100 will be breached by the stock come Christmas.