Morgan Stanley analyst Katy Huberty, based on the latest information from Sensor Tower, expects Apple's May App Store net revenue growth to slow to 4% year-on-year, down from its forecast of 8% year-on-year growth in April. Huberty noted that the results were generally lower than expected, with broad-based decelerations across all regions except the U.S., and the forecast for a 15% year-over-year growth in the App Store in the fiscal third quarter is now at risk to the downside. Huberty added that App Store growth is likely to re-accelerate after the fiscal third quarter, and analysts have an overweight rating on Apple stock and a $195 price target.
Leave a Reply