Apple App Store sees no growth in July for first time ever

Yahoo Finance Live’s Brian Sozzi discusses the Apple App Store seeing no growth in the month of July for the first time ever.

Video Transcript

- Recession fears still swirling, despite all the concerns about inflation. We learned of a spending weakness by mobile gamers, compliments of Take-Two's earnings. Let's check back in on Apple's App Store trends in our stats today to get more insight into consumers mindset. Evercore ISI points out in a new research that Apple's App Store did not grow in July, the first month without growth since the store's inception in 2008. The App Store only grew by 5% in Apple's June-ended quarter. So the spending slowdown appears to be worsening, at least as it pertains to digital stuff.