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Wednesday, February 8, 2023

Apple Stock Slumps As Morgan Stanley Cautions on App Store Impact to Q3 Revenues

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Updated at 11:19 am EST

Apple  (AAPL) – Get Apple Inc. Report shares slumped decrease Friday after analysts at Morgan Stanley cautioned that the tech large’s App Store income is slowing, creating what it referred to as ‘draw back danger” for services revenue growth over the current quarter.

Morgan Stanley analyst Katy Huberty, one of Wall Street’s most-respected Apple watchers, noted that App Store revenues were up 6% from last year over the two months ending in May, but a tougher June comparison could mean Apple will struggle to meet its the bank’s target of 15% net revenue growth for the quarter.

Source: www.thestreet.com

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