Apple’s (AAPL) U.S. App Store revenue and monetization is accelerating in May, showing no impact from the April 30 injunction, Morgan Stanley tells investors in a research note. The firm’s survey still shows 2% of Apple’s EPS is “at-risk” if real-world behavior mimics survey work, and 28% of U.S. iPhone owners “link-out” of App Store in-app purchases. The firm has an Overweight rating and $235 price target on the shares.
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