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Apps & Software

Apple (AAPL) Becomes Too Excellent: 100,000 Apps

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By Douglas A. McIntyre Updated Published
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appleIt will be a shame when the day comes that Apple can’t put out good news every day. The market has become used to it. Apple (NASDAQ:AAPL) now has the 9th highest market cap of all companies traded on a US exchange at $173 billion, about the same at Procter & Gamble (NYSE:PG) and JPMorgan (NYSE:JPM).

Apple today announced that its app store, certainly the most successful software service of its kind, has reached 100,000 applications available for iPhone and iPod users. Describing the triumph Philip Schiller, Apple’s senior vice president of Worldwide Product Marketing said“The iPhone SDK created the first great platform for mobile applications and our customers are loving all the amazing apps our developers are creating.”

The success of the Apple app store is a bit misleading. Downloads from the store are dominated by a very small number of game, news, information, and self-help products. Among the apps which have the highest gross revenue based on their sales at the app store, a large portion are online versions of Electronic Arts (NASDAQ:ERTS) games. The top free sites also tend to be games and social network applications.

The app store is unquestionably one of the greatest examples of the democracy of the interest. Any reasonably skilled software programmer can build an app using the Apple SDK. But, like in a democracy, getting votes is hard without money to run a campaign. Big marketers and big brands control the store

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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