<div id="readability-page-1"><div><div>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 the calendar second quarter or fiscal third quarter, the analyst noted the latest monthly revenue trends for the App Store to be supportive of Services growth tracking in line with his forecast for low-double-digit year-over-year growth, contrary to investor concerns from the lack of an explicit guide.Also Read: Apple Stock Too Pricey? Analyst Warns Of Rising Competition, Tariff Risks, Favors 2 Tech GiantsChatterjee remarked that in May, App Store downloads increased by 2.0% month over month (versus a decline of 4.6 % M/M in April), compared to an average sequential change of 0.1% decline seen historically from April to May.The analyst said that on a year-over-year basis, the App Store downloads increased by 3.1% in May (versus +5.8% in April).On the flip side, some experts cite research pointing toward growth issues for Apple's iPhone. Counterpoint Research has cut growth expectations for global smartphone shipments in 2025 to 1.9% on Wednesday, down from 4.2% previously, citing Trump administration tariff-related uncertainties.The firm also revised shipment growth from China down to near flat and expects Apple and Samsung Electronics shipments to slow as the companies pass the cost burden on consumers.Other research from IDC expects the U.S. smartphone shipment to grow by 1.9% in 2025, down from 3.3% in 2017, due to increased uncertainty and tariff-related price increases.Meanwhile, Deepwater Research's Gene Munster estimated that Apple has about two years to perfect its AI strategy, but it will require increased investments.APPL Price Action: Apple stock closed lower by 0.22% to $202.82 on Wednesday.<ul> <li>Alibaba, JD See Sales Soar In 618 Festival, Apple And Xiaomi Emerge As Top Selling Brands</li> </ul>Photo by hanohiki via Shutterstock</div></div></div>

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JP Morgan analyst Samik Chatterjee maintains an Overweight rating on Apple Inc, noting a 4.9% month-over-month increase in App Store revenue for May, supporting a 13.0% year-over-year growth. Despite no official guidance for Services revenue, trends suggest low-double-digit growth. App Store downloads rose 2.0% month-over-month. However, concerns arise from reduced growth expectations for iPhone shipments due to tariff uncertainties. Apple stock closed down 0.22% at $202.82.

- JP Morgan analyst Samik Chatterjee maintains an Overweight rating on Apple Inc, noting a 4.9% month-over-month increase in App Store revenue for May.  
- Despite the lack of official guidance from management, Chatterjee suggests that the revenue trends support his forecast for low-double-digit year-over-year growth in Services.  
- However, concerns arise from revised growth expectations for global smartphone shipments, which may impact Apple's iPhone sales due to tariff-related uncertainties.

Apple App Store Sales Jump In May, Boosting Outlook For Services Growth