Evercore ISI analyst Amit Daryanani reports citing Sensor Tower estimated data that App Store revenue grew 13% in May, which was “a slight step up” from the 12% growth rate in April. Revenue from the U.S. market was up 10%, the highest growth rate since January, according to the analyst, who says investors have been “understandably concerned” since the April 30 ruling that Apple (AAPL) must allow developers to steer users to non-Apple payment options. App Store data is not showing an impact from the Epic ruling yet, although May was likely too soon to see a material impact and “June data will be the real test,” adds the analyst, who maintains an Outperform rating and $250 price target on Apple shares.
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