Apple Holds Steady: UBS Keeps Neutral Rating as App Store Growth Slows to 7% in March Quarter

2 weeks ago 7

David Moadel

Tue, April 7, 2026 astatine 8:54 AM CDT 4 min read

Apple (AAPL) is drafting scrutiny from Wall Street arsenic UBS maintains its Neutral standing and $280 terms target, citing meaningful deceleration successful App Store enactment to 7% maturation successful the March quarter, a notable measurement down from 14% year-over-year Services maturation successful the anterior period.
While App Store momentum is softening—particularly successful the U.S.—Apple’s Services conception is expected to support astir 14.4% wide maturation heading into the March quarter, supported by spot successful different categories similar Apple Music, iCloud, and Apple Pay, suggesting the broader Services motor has offset near-term App Store weakness.
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Apple (NASDAQ:AAPL) is drafting caller scrutiny from Wall Street arsenic UBS (NYSE:UBS) maintains its Neutral standing and $280 terms people connected Apple shares. The firm's latest enactment flags a meaningful deceleration successful App Store enactment that could measurement connected the Services segment's momentum heading into the March quarter.

UBS investigation of App Store information shows maturation came successful astatine astir 7% successful the March quarter, dragged little by flattish maturation successful the U.S. That's a notable measurement down from the 14% year-over-year Services gross maturation Apple posted successful its astir caller quarter. Yet, UBS isn't dramatically revising its outlook, keeping its Services maturation forecast dependable astatine astir 14.4% for the March quarter.

Ticker

Company

Firm

Action

Old Rating

New Rating

Old Target

New Target

AAPL	Apple	UBS	Rating Maintained	Neutral	Neutral	$280	$280

UBS isn't sounding an alarm, but it's raising a yellowish flag. App Store maturation of 7% successful the March 4th signals that 1 of Apple's astir profitable sub-segments is losing steam, peculiarly successful its location market. The U.S. App Store, historically a reliable maturation engine, appears to person gone fundamentally flat.

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What makes this nuanced is that UBS inactive expects wide Services maturation of astir 14.4% successful the March quarter, suggesting different Services categories are picking up the slack. Apple's Services conception includes Apple Music, iCloud, Apple Pay, Apple TV+, and advertising, alongside the App Store.

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