Apple advertising on own apps is underappreciated, says Barclays

Barclays analyst Tim Long believes Apple’s advertising on its own apps is underappreciated by investors. Most ad revenues are generated on the App store, with some contribution from News and Stocks, the analyst tells investors in a research note. The firm believes this could expand to other apps like Maps and TV+, and says Apple’s AdNetwork position the company for further growth. It keeps an Equal Weight rating on Apple with a $145 price target.