UBS tells investors in a research note that the firm’s analysis of Apple’s (AAPL) App Store suggests August revenue was up 11% year over year on a reported basis, down from July’s 13%, against a harder comp, the analyst tells investors in a research note. The App Store faces comps of 12% for the remainder of the calendar year, limiting upside to Services revenue, UBS argues. The firm has a Neutral rating and $220 price target on the shares.
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