
Apple's App Store revenue saw significant growth in September, increasing by 14% year-on-year, according to Bank of America (BofA). For the fiscal fourth quarter, the revenue increased to $7.8 billion, up 13.6% year-on-year. This growth was supported by strong performance in China, where revenues grew 6% year-on-year. Analysts from various financial institutions, including BofA, JPMorgan, and Evercore ISI, have reiterated positive ratings on Apple. JPMorgan analyst Samik Chatterjee maintained an Overweight rating with a $265 price target, while Evercore ISI gave an Outperform rating with a $250 price target, citing the strong end to the fourth quarter for App Store revenues. Evercore ISI also noted that the 13% growth rate for the App Store should support Services revenue growth of around 14% versus Apple's guide for double digits.
