Morgan Stanley said its US/China smartphone survey was surprisingly robust and points to market growth and record iPhone share gains. Smartphone demand remains surprisingly robust driven by shrinking replacement cycles, according to analyst Katy Huberty. The firm's analyst expects Average Selling Prices to rise, especially in China, further supporting growth. Huberty raised her FY16 Apple iPhone unit growth estimates to +7% from +3%, with a potential bull case of +12%, driven by the strong upgrade cycle and share gains. Huberty rates Apple an Overweight and increased her price target on shares to $162 from $155.

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