Investing.com -- Apple’s global App Store revenue grew 15% year-over-year in the fiscal second quarter of 2025, according to Bank of America.

The bank maintained its Buy rating on Apple (NASDAQ: AAPL ) in a note to clients on Wednesday, citing stable cash flows, earnings resilience, and potential benefits from artificial intelligence.

According to BofA, App Store revenue for the quarter reached $8.6 billion, based on data from SensorTower.

"Total downloads (iPhone + iPad) increased 5% y/y to 8.9 billion," BofA noted. Additionally, app store dollars per download rose 9% year-over-year to $0.95.

In March alone, App Store revenue increased 11% globally. BofA kept its price objective for Apple at $265 and left earnings estimates unchanged.

The Productivity app category was the fastest-growing segment in the quarter, with revenue surging 54% year-over-year, according to the bank.

"Productivity grew in F2Q25 to 4% of total revenue from 3% in F2Q24, driven by ChatGPT," BofA stated.

They added that daily active users of ChatGPT on the App Store expanded from 4 million in January 2024 to 20 million in March 2025.

The Unified App Store saw even stronger growth, with ChatGPT DAUs climbing from 13 million to nearly 75 million in the same period.

Meanwhile, Apple TV’s recent expansion to Android devices is also said to have seen early traction.

"Apple TV averaged ~1.5 million DAUs during the month of March," BofA said, though meaningful revenue has yet to materialize. The firm sees long-term potential for increased subscription revenue from broader access to Apple TV+.

Overall, BofA forecasts Apple’s total services revenue to grow 12% year-over-year in F2Q25 and 13% for the full fiscal year. However, the firm noted that "estimates could prove conservative if App Store strength persists."