Apple App Store Sales Jump In May, Boosting Outlook For Services Growth
1. JP Morgan maintains Overweight rating on AAPL, signaling confidence. 2. App Store revenue rose 4.9% MoM, outperforming historical averages. 3. Year-over-year App Store revenue growth accelerated to 13.0% in May. 4. Smartphone shipment growth expectations revised down due to tariffs. 5. Apple needs to invest heavily to enhance its AI strategy.