Apple's App Store Has Netted $429 Million, a Loss-Leader

Apple touts its app store as being one huge advantage for its iPhone and iPad systems over competitor's offerings. And you'd think a store with 200,000-plus articles on sale would be a screaming financial success, yes? Nope.

Apple Analyst Gene Munster at Piper Jaffray has been trawling through some of the stats revealed by Steve Jobs in his WWDC keynote, and as analysts are wont to do he's managed to infer some interesting little extras from them. The basic figures he worked from are 5...