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Apple (AAPL) Stock Up, Pokemon Go May Add $3 Billion in Revenue

NEW YORK (TheStreet) -- Shares of Apple (AAPL) are rising 0.38% to $100.25 this morning after analysts at Needham estimated that Nintendo's (NTDOY) popular mobile game, Pokemon Go, could add as much as $3 billion to Apple's revenue.

The game has already raised Apple's market cap by $2 billion since its launch on July 6. Over the next two years, Needham estimates that the company could see additional high-margin revenue from the game nearing $3 billion.

Apple will retain around 30% of Pokemon Go's revenue spent on its devices which suggests an upside to earnings, Needham added in an analyst note cited by Barron's.

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