Apple takes between 15% and 30% of app purchases and in-app purchases made on iPhones and other Apple devices. The company doesn’t report App Store sales but includes it as part of the services business. Morgan Stanley expects Apple’s total services revenue to show an 8% increase in the September quarter.
Luca Maestri, Apple’s finance chief, said in July that the company expects less than 12% service growth in the September quarter because of the macroeconomic environment and the strong U.S. dollar.
Maestri also blamed difficult comparisons to elevated services results during the Covid-19 pandemic.
“Our services business a year ago grew a lot and so also the compare is a bit challenging. So we don’t have a very specific number to give out today,” Maestri said. “Of course, we expect to grow.”
