UBS says an analysis of App Store data indicates growth slowed from 13% in the June quarter to 10% in the September quarter off a 140 basis point tougher compare. On a currency neutral basis, Apple’s (AAPL) App Store grew 9% in the September quarter, the analyst tells investors in a research note. UBS points out that looking forward, Apple’s compare for the December quarter is 15%, relatively in-line with the comps year-to-date. The firm keeps a Neutral rating on the shares with a $220 price target
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- Amazon (AMZN) Earns a ‘Perfect 10’ Score — Here’s What’s Fueling the Optimism
- OpenAI’s ChatGPT Gets Cozy with Spotify, Zillow, Coursera, Other Apps – Their Stocks Love It
- Apple Stock (AAPL) Slumps as it Faces Cyber Crime Probe Over Siri Recordings
- How ‘The Magnificent 7’ Upgraded Storytelling to Influence Stock Sentiment
- Apple (AAPL) May Be Preparing for a Major Shakeup of Its Leadership Team