The prospect of a sudden halt in growth, after earnings leapt 23 per cent in the year to September 2012, weighed heavily on Apple’s shares. They sank to a fresh 12-month low, falling 5.5 per cent to $402.80, after briefly dipping below $400 for the first time since 2011, reports The FT.
The mobile app ecosystem has seen explosive growth as consumers flock to app stores linked to their mobile platforms and devices. There's plenty of money in the app economy: ABI Research predicts that mobile app revenue will reach $46 billion by 2016, up from about $8.5 billion in 2011.
AppGratis, the app-discovery app that Apple removed last week for closely mimicking the official App Store, started an online petition yesterday that encourages users to ask Apple to let it return. Apple said it removed AppGratis for violating a clause in the iOS developer guidelines that prohibits apps from mimicking the official App Store.
More than four years after Apple launched its iPhone App Store, mobile app stores represent some of the world's fastest growing software markets and create must-build opportunities for many software companies.