Apple’s services business remains at record levels, but its core component, the App Store, is under pressure from regulation and a mobile gaming slump. On Monday’s earnings call, Apple signaled it may look for new services revenue through third-party apps, but did not explain what that means. CFO Kevan Parekh said that on the product side, AI offers a compelling reason for customers to upgrade and switch, and that there are opportunities across third-party apps and partnerships as well as first-party opportunities. He did not elaborate.

Reuters reported that investors are wondering whether Apple could profit by distributing third-party AI agents through the App Store and taking a cut of the revenue they generate. The regulatory and legal backdrop has already eroded Apple’s commission income: third-party estimates in August suggested an 18% drop in U.S. commission revenue, with declines also in Brazil and Japan after new regulations. The Epic Games lawsuit forced Apple to allow apps to redirect users to outside payment systems, and subsequent legal challenges have continued to hamper the business.

Parekh acknowledged the App Store headwinds while noting that during the September quarter App Store performance was similar to the prior year, with a record number of paid subscriptions and double-digit growth for third-party apps. He repeated that mobile gaming headwinds would continue into the summer quarter. For the December quarter, Apple expects services growth of 8% to 9%, accounting for sequential headwinds from third-party licensing and foreign exchange. TechCrunch has reached out to Apple for more information and will update if the company responds.