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Investing.com - Goldman Sachs has reiterated its Buy rating and $266.00 price target on Apple (NASDAQ:AAPL) following strong App Store performance data. This aligns with broader analyst sentiment, as InvestingPro data shows 21 analysts have recently revised their earnings estimates upward, with price targets ranging from $175 to $300.
July 2025 Apple App Store spending grew 13% year-over-year according to Sensor Tower data, accelerating from 12% growth in June 2025 and marking the fastest monthly year-over-year growth since November 2024.
The growth aligns with Goldman Sachs’ estimate for Apple’s fiscal fourth quarter 2025 Services revenue growth of 13% year-over-year, matching Apple’s own guidance for the period.
U.S. App Store spending specifically accelerated to 13% growth compared to 12% in June 2025, despite market concerns about user adoption of third-party payment options.
Goldman Sachs estimates the App Store represents 25-20% of Apple’s Services revenue, making it the largest category within the company’s services business.
In other recent news, Apple reported its fiscal third-quarter earnings for 2025, surpassing analyst expectations with a revenue of $94 billion and an earnings per share (EPS) of $1.57. The company exceeded forecasts by 5.66% for revenue and 10.56% for EPS. Barclays (LON:BARC) raised its price target for Apple to $180, maintaining an Underweight rating, noting that iPhone and Mac sales contributed to the quarter’s upside. BofA Securities also increased its price target to $240, citing a strong quarter and guidance that surpassed consensus, highlighting robust iPhone unit strength. Similarly, Morgan Stanley (NYSE:MS) raised its price target to $240, maintaining an Overweight rating, due to Apple’s performance in the June quarter, which exceeded expectations across Products, Services, and gross margins. Despite these positive developments, Apple shares fell slightly in after-hours trading. These recent developments reflect a period of strong financial performance and positive analyst sentiment for Apple.
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