Goldman says Apple App Store spending growth decelerated in November

Goldman Sachs analyst Michael Ng says Sensor Tower data indicates Apple (AAPL) App Store spending grew 6% year-over-year in November, decelerating from 9% year-over-year growth seen in October. Worsening spending trends were largely driven by Games, which declined 2% year-over-year, while four of Apple’s top five geographies, comprising 52% share of total spending, decelerated sequentially, reported the analyst. Goldman has Buy rating on Apple with a 12-month target price of $320.