Apple Leads In App Sales Despite Smaller Base Of Users

Apple's (AAPL) App Store raked in 60% of mobile app sales last year, despite having a smaller base of users than Alphabet's (GOOGL) Google Play store, BMO Capital Markets reported Wednesday.

Apple's iOS App Store generated $27 billion in revenue in 2016, compared with $18 billion for Google Play, BMO said. The investment bank predicts that Apple will hold its 60% share of app sales for at least the next two years.

"That total spend on iOS apps is larger than (Google) Play store spend may be...

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