Apple Stock Soars On New App Store Records

Apple Stock Soars On New App Store Records
ElisaRiva / Pixabay

The stock price of Apple surged after its senior vice president of internet services, Eddie Cue said the App Store is off to break records in 2015 given its continuing momentum.

The shares of Apple were trading $111.73 per share, up by nearly 4% at the time of this writing around 1:16 in the afternoon in New York.

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2015 is another record-breaking year for Apple App Store

Yesterday, Apple announced that its billings increased 50% and apps generated more than $10 billion in revenue for developers in 2014.

According to the tech giant the strength of the App Store is continuing this year based on the fact that it already set a record during the first week of January— customers are spending almost $500 million on apps and in-apps purchases