10:34 AM EDT, 10/07/2025 (MT Newswires) -- Apple's ( AAPL ) App Store revenue growth slowed to about 10% in the September quarter from roughly 13% in the June quarter, UBS Securities said, citing its analysis of Sensor Tower data.

On a foreign exchange-neutral basis, App Store growth was about 9% as currency effects were a slight tailwind, the firm said in a Monday note.

UBS said growth was fairly consistent across regions, with both the US and the rest of the world up about 10% on a reported basis.

The firm said the deceleration "poses downside risk in the September quarter" as it estimates the App Store accounts for about 25% of Apple's ( AAPL ) Services revenue. "We think that any further deceleration in App Store is worth monitoring," it added.

UBS has a neutral rating and $220 price target on Apple ( AAPL ).

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