Goldman Sachs reaffirmed its Buy rating on Apple, setting a $266 price target, after reporting a 13% increase in App Store spending year-over-year in July 2025. This growth rate is the highest since November 2024, supporting Goldman’s projection of 13% Services revenue growth in Apple’s fiscal Q4. U.S. App Store spending also rose by 13%, alleviating concerns about third-party payment competition. The App Store accounts for an estimated 20-25% of Apple’s Services revenue. This news is significant for investors following Apple’s performance and revenue streams.

Read more at Quiver Quantitative: Apple App Store Spending Rises 13% in July, Fastest Growth Since November 2024