Apple App Store Sales Jump In May, Boosting Outlook For Services Growth
JP Morgan analyst Samik Chatterjee had an Overweight rating on Apple Inc AAPL on Tuesday.Apple's App Store revenue for May, tracked by Sensor Tower, increased by 4.9% month-over-month (which compares to an average sequential uptick of 2.3% seen historically going from April to May) and helped support an acceleration of year-over-year revenue trends to up 13.0% Y/Y in May (versus up 11.8% Y/Y in April), Chatterjee stated.While the management did not provide official guidance for Services revenue growth for t ...