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'Pokémon Go' could boost Apple sales by $3 billion

Nintendo (NTDOY) isn’t the only company cashing in on the “Pokémon Go” phenomenon.

According to Needham analyst Laura Martin, the mobile game could be responsible for adding $3 billion to Apple’s (AAPL) top line.

“Nintendo’s market cap has risen by $20B,” Martin said in a note to clients. “By contrast, AAPL’s market cap rose by only $2B between July 6-18 (above the S&P500’s move). We estimate that APPL could generate $3B of incremental high-margin revenue from ‘Pokémon Go’ over the next 12-24 months. As background, ‘Candy Crush’ generated more than $1B of revenue in … 2013 and 2014 and Pokémon Go’s ratio of...