Pokemon Go is aleady in decline, according to an analyst at Axiom Capital.

“Given the rapid rise in usage of the Pokémon Go app since the launch in July, investors have been concerned that this new user experience has been detracting from time spent on other mobile focused apps,” writes Axiom Senior Analyst Victor Anthony.

Pokemon Go’s daily active users, downloads, engagement and time spent on the app (and the references to it we see on our Facebook page and Twitter accounts) are all trending downward.

Anthony points out that interest in augmented reality like Pokemon Go is also declining according to Google Trends. Interest in virtual reality remains high, however, he says.

For charts showing the data see: