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The synchronized global slowdown has hit Apple's iOS App Store downloads...

• https://www.zerohedge.com, By Tyler Durden

In a series of Twitter posts, CNBC's Kif Leswing published some of the investment bank's findings:

 "For the first time since at least 1Q15 (as far back as we have the data), the number of quarterly [App Store] downloads declined, falling 5% Y/Y."

While the decline shows some signs of consumer weakness, the bank noted that App Store revenue is growing and is more closely tied to spend per download, and not just overall download numbers.

"While the decline in downloads is something investors should monitor, it's not necessarily indicative of consumer app usage trends, since App Store net revenue is correlated more so with spend per download (driven by in-app purchases)."

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