After Apple (AAPL) introduced a new program aimed at developers hosting web-based mini apps or games within native iOS apps, Morgan Stanley views this as “a clear positive for Apple” as it expands App Store monetization and reduces “super-app” risk. Apple’s new 15% commission on mini apps could add $800M of App Store revenue annually from WeChat/Weixin alone, implying 80 basis points of upside to the firm’s FY26 Services growth estimate, the analyst tells investors. The firm, which thinks the Mini App Partner Program should also help dispel the recent ChatGPT disruption theses, keeps an Overweight rating and $305 price target on Apple shares.
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