Apple Services Revenue Trajectory Signals Softness With Weaker App Store Downloads: Analyst
1. Apple's August App Store revenue grew 11.2% year-over-year. 2. Growth rates are slowing compared to historical averages. 3. JP Morgan maintains an Overweight rating for AAPL. 4. Downloads were flat month-over-month, trailing seasonal norms. 5. Current trajectory indicates softer growth outlook for AAPL's Services segment.