Apple acquires Canadian app development service Buddybuild

Apple acquires Canadian app development service Buddybuild

In what will be a boost to iOS developers (and a blow to some Android devs), Apple has gone out and acquired Buddybuild, a Canadian startup that makes tools for app developers. The remaining roster of existing customers is an impressive one, including Mozilla, Hootsuite, Reddit, SoundCloud, FourSquare and The New York Times.

Developers typically get 70% of that revenue, though the proportion increases to 85% after customers have completed a year's subscription to an app. It will also discontinue all its services to Android app developers. The noteworthy aspect of this development is how the startup was meant to make the work of developers much easier via testing and improvements. The California-based giant has acquired a Canada-based startup named Buddybuild, an app tools startup that describes itself as "mobile iteration platform" focused on continuous integration and debugging tools. This will allow Apple to expand and continue on with a better development of iOS apps. After all, if there are no developers making software for its hardware, the company won't sell as many devices. The Apple acquisition is really exciting for the Apple fans amid legal troubles and iOS issues in the recent past. Buddybuild does the same, but in a more comprehensive way.

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Some other top-ranked stocks in the broader technology sector are NVIDIA Corporation NVDA and Micron Technology Inc MU, sporting a Zacks Rank #1 (Strong Buy).

That means there were more than a billion dollars total in App Store purchases made during the holidays, a not-insignificant amount, especially when you consider third-party research reports that suggest the majority of smartphone users in the United States download zero new apps per month. You can see the complete list of today's Zacks Rank #1 stocks here.

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Long-term earnings growth for IntriCon, Western Digital and Yelp are now pegged at 20%, 25.1% and 26.6%, respectively.

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