Pokemon Go on Apple iPhones
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The "Pokemon Go" phenomenon will add billions to Apple's sales and is evidence of the power of the company's app store, investment bank Needham says.
"We believe Pokémon Go underscores two under-appreciated investment qualities of AAPL: 1) AAPL is THE global distribution platform for mobile content winners (not just Pokémon Go), with the wealthiest consumers; and 2) We believe AAPL keeps 30 percent of Pokémon GO's revenue spent on iOS devices, suggesting upside to earnings," Needham's Laura Martin wrote in a note to clients Wednesday.
