Piper Jaffray analyst Gene Munster does not believe the "significance" of Apple's iPhone Upgrade Program is being reflected in the share price at current levels. Annual upgrades will likely push the U.S. upgrade cycle to an average of 15 months from the current 22 months by 2018, Munster tells investors in a research note. This should add between 5%-7% to consensus iPhone unit expectations in each of the next 4-plus years, he adds. Munster sees upside to shares of Apple based on this faster upgrade cycle trend. He has an Overweight rating on the stock with a $172 price target. The iPhone maker closed yesterday down 53c to $110.78.

Apple has renewed talks with OpenAI about using the company's technology to power some new features coming to the iPhone later this year, Bloomberg's Mark Gurman reports, citing people familiar with the matter. The two companies have begun discussing terms of a possible agreement and how the OpenAI features would be integrated into Apple's iOS 18, the next iPhone operating system, said the people, who asked not to be identified because the deliberations are private.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Erste Group downgraded Apple to Hold from Buy.

Apple (AAPL) supplier TSMC (TSM) has unveiled its A16 chip manufacturing technology featuring nanosheet transistors with "backside power rails" meant for producing its ultra-advanced 1.6nm chips by 2026, Nikkei Asia's Cheng Ting-Fang reports. TSMC says the introduction of the technology can "greatly improve logic density and performance." Reference Link

Alphabet (GOOGL), the parent company of Google, is scheduled to report first quarter 2024 results after the market close on Thursday, April 25, with a conference call scheduled for 4:30 pm Eastern Time. What to watch... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Apple saw sales of its iPhones fall 19.1% in the first three months of the year, CNBC's Ryan Browne reports, citing data from Counterpoint Research. Meanwhile, Huawei saw a 69.7% surge in smartphone sales in the country during the same period, Counterpoint said. Reference Link