A pack of 100 PokeCoins costs 99 cents in Apple's app store, but the price can go up as much as $99.99 for a pack of 14,500.
"We believe Apple keeps 30 percent of Pokemon Go's revenue spent on iOS devices, suggesting upside to earnings," Needham analyst Laura Martin wrote in a client note on Wednesday.
Pokemon Go had 21 million active users in the United States alone as of July 18 - less than two weeks after going live.
(Also see: Pokemon Go Review)
The game, which has been rolled out in 35 countries, is also available on Android devices.
Martin said Pokemon Go's ratio of paid users to total users was 10 times that of Candy Crush, the hit game from King Digital that generated more than $1 billion of revenue in both 2013 and 2014.
Electronics retailers have also seen a bump in sales of mobile chargers and charging cases since the launch of the game.
Up to Tuesday's close, Apple's shares had gained 5 percent in market value, or about $25 billion (roughly Rs. 1,68,127 crores), since the launch of the game in the United States on June 6. Nintendo's stock has nearly doubled.
© Thomson Reuters 2016