Goldman Sachs reaffirmed its Buy rating on Apple with a $266 price target after reporting that App Store spending rose 13% year-over-year in July 2025. The growth, the fastest since November 2024, supports Goldman’s projection of 13% Services revenue growth in Apple’s fiscal Q4.
- App Store spending rose 13% YoY in July, up from 12% in June
- Growth rate is the highest since November 2024
- Goldman Sachs maintains Buy rating, $266 price target
- U.S. App Store spending also rose 13%, easing concerns about third-party payment competition
- App Store accounts for an estimated 20–25% of Apple’s Services revenue
Relevant Companies
- AAPL – Apple generates significant revenue from the App Store, which directly contributes to its Services segment
Editor’s Note: This is a developing story. This article may be updated as more details become available.
