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Apple Inc. App Store Was Just Dominated By a Major Rival

Apple Inc. (NASDAQ:AAPL)

Apple Inc. saw its App Store was dominated by rival Fitbit Inc on Christmas Day. Fitbit, which leads the wearables market, was the number one free app on the App Store on Dec 25, suggesting many new devices were bought during that time.

Apple Inc. (NASDAQ:AAPL)

Fitbit popular on App Store

During Christmas afternoon, the Fitbit app in the US jumped 20 spots to claim the top spot on the App Store in the US, says a report from Quartz. In previous years Fitbit has done well in the fourth quarter. Last year, the firm sold around 5.3m devices, which was more than the previous three quarters combined.

Citing data from the mobile analytics firm App Annie, Quartz said that Fitbit was the most downloaded health and fitness iOS app in Dec on a daily basis also, but Christmas was the first time when the app topped the free Apple Store app.

A few weeks back, IDC forecasted wearable device shipments to reach 214.6m in 2019, and in 2015, the shipments is expected to hit 80m units. Since the launch of Apple Watch, there have been talks of smartwatches taking over a fitness tracker market controlled by products from Jawbone and Fitbit Inc . Though such talk is likely premature, IDC figures suggest that smartwatches will be the most popular segment in the wearable market.

2016 will be a quiet year for Apple

The year 2015, can be said as a year of big Apple Inc. releases, but for 2016, analysts say the firm will focus more on refining the product lines. Hinting a move towards smartphone saturation, Apple stock took battering this year, with over $220bn erased from the firm’s market cap.

Apple Watch was Apple’s first wearable product, and it helped the firm leapfrog Samsung, Sony and others to dominate the segment. IDC expects Apple to ship 21.3m watch this year. Based on Apple’s financial numbers, it is estimated that the Watch added $1.7bn to revenue in 6 months.

For the iPhone, Katy Huberty from Morgan Stanley expects iPhone sales to drop for the first time in 2016. Huberty expects iPhone sales to drop as much as 3%. This could be a big upset for the firm, which gets a majority of its revenues from the iPhone. However, there are many analysts who were positive on the iPhone, but were concerned about the iPad sales.

On Dec 24, Apple Inc. shares closed down 0.53% at $108.03. Year to date, the stock is down over 2% while in the last one-month, it is down over 8%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.