There’s a bit of myth that’s trotted out every now and then suggesting that gaming hasn’t really taken off in the App Store in the way some people hoped.
A look at the top 10 downloaded iPhone apps worldwide for the month of April tells a different story, however. It shows that seven of the top 10 iPhone apps were games. Altogether, these were downloaded a massive 74 million times in April alone.
We can talk all day about whether or not Wall Street is made up of a gibbering bunch of mad men based upon their recent decision to start selling off Apple shares in droves after hearing that Apple had just reported another record quarter. Some think that’s proof of stupidity or a conspiracy; some think that Wall Street just buys against future growth, and Apple has peaked; and some just think that Wall Street doesn’t think tech stocks can last.
Whatever the rationale for Wall Street’s panic, this chart puts it in perspective: Apple’s “disappointing” quarter was still more profitable than the profits recorded by even other super-profitable companies. Really makes the sell-off look stupid, doesn’t it? If Wall Street isn’t abandoning Exxon in droves, they shouldn’t be abandoning Apple.