Apple Sees 7% App Store Growth, Maintains $330 Target as iPhone 17e and M5 MacBooks Loom
Apple will launch the iPhone 17e with MagSafe soon, debut iOS 26.4 beta with updated Siri the week of Feb. 23 and ship M5 MacBook Pros the week of March 2. Goldman Sachs kept its Buy rating and $330 target after January App Store spending rose 7% YoY.
1. Upcoming Hardware Launches
Apple is set to unveil its iPhone 17e with MagSafe imminently and plans to ship new M5-powered MacBook Pros the week of March 2, signaling a refresh across its hardware lineup.
2. iOS 26.4 Beta with Updated Siri
The company will roll out the iOS 26.4 beta featuring an updated Siri voice assistant during the week of Feb. 23, underscoring its push into AI-driven software enhancements.
3. App Store Spending and Price Target
Goldman Sachs maintained its Buy rating and $330 price target after reporting a 7% year-over-year increase in January App Store spending, highlighting continued momentum in digital services.
4. Services Growth Outlook and Risks
Analysts note that App Store acceleration, especially in entertainment categories, will drive Services revenue growth, though adoption of off-app payment methods poses a long-term risk to margins.