Apple (AAPL) Gets $266 Price Target as App Store Growth Surges

Apple Inc. (NASDAQ:AAPL) is one of the Trending AI Stocks on Wall Street. On August 4, Goldman Sachs analyst Michael Ng reiterated a Buy rating on the stock with a $266.00 price target.

The rating affirmation follows strong App Store performance data. The firm estimates that App Store is the largest category within Apple Services revenue.

Sensor Tower data reveals how July 2025 Apple App Store spending grew 13% year-over-year, which is the fastest monthly year-over-year growth since November 2024.

The firm noted that this growth is in-line with the firm’s estimate for AAPL F4Q25E Services revenue growth of +13% year-over-year.

“Notably, Apple App Store spending accelerated in the US (+13% v. +12% yoy in June 2025), despite concerns over user adoption of third-party payment options. We estimate App Store is the largest category within AAPL Services revenue, representing 25-20% of Services revenue.”

Apple is a technology company known for its consumer electronics, software, and services.

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READ NEXT: 10 Must-Watch AI Stocks on Wall Street  and 10 AI Stocks Gaining Attention on Wall Street.

Disclosure: None.