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Investing.com - Goldman Sachs has reiterated its Buy rating and $266.00 price target on Apple (NASDAQ:AAPL), currently trading at $236.94, following August 2025 App Store spending data. According to InvestingPro data, 20 analysts have recently revised their earnings estimates upward for the upcoming period.
According to the investment bank, Apple App Store spending grew 11% year-over-year in August 2025 based on Sensor Tower data, showing a slight deceleration from the 13% growth recorded in July 2025.
Despite this minor slowdown, the August growth rate still exceeded the 2022-2024 average August year-over-year growth rate of 8%, Goldman Sachs noted in its analysis.
U.S. spending, which accounts for approximately 38% of global Apple App Store spending, showed similar trends with 11% year-over-year growth in August, down slightly from 12% in July 2025.
Goldman Sachs estimates that the App Store represents 25-20% of Apple’s Services revenue and forecasts 11% year-over-year Services revenue growth on a constant-currency basis for the September quarter (F4Q25E), aligning with the August 2025 trends. With the next earnings report due on October 23, InvestingPro subscribers can access comprehensive analysis and 14 additional ProTips to make informed investment decisions.
In other recent news, Apple has seen several significant developments. BofA Securities has increased its price target for Apple to $260, up from $250, while maintaining a Buy rating, following a favorable memorandum opinion in the Department of Justice’s antitrust case against Google. Similarly, TD Cowen has reiterated its Buy rating with a price target of $275, noting favorable conditions for Apple’s advertising revenues due to Google’s search business remedies. Meanwhile, General Interface Solution (GIS) has secured an exclusive role in the backend processing for Ultra-Thin Glass used in Apple’s forthcoming foldable devices, with expected releases in 2026 and 2028.
In a different sector, Apple’s lead AI robotics researcher, Jian Zhang, has departed for Meta Platforms, marking part of a larger trend of AI talent leaving the company. This includes the resignation of three additional AI researchers from Apple’s large language models team. On another note, JPMorgan has reaffirmed its Overweight rating and a $255 price target for Apple, suggesting potential upside from the upcoming iPhone Air launch event. These developments offer investors a comprehensive look at Apple’s current trajectory and strategic moves.
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