KeyBanc analyst Andy Hargreaves says that supply checks suggest near-term Apple iPhone demand has stabilized, but suggest little optimism around a recovery in FY20 due in part to relatively modest hardware updates, stagnant global demand, and the potential for ongoing impairment to demand in China. The analyst lowered his estimate of FY20 iPhone unit growth to 2%-plus from 5%-plus and slightly reducing his FY20 iPhone ASP estimate to $731 from $738. This drives his FY20 revenue and EPS estimates to $263B and $12.61, respectively, from $268B and $12.85. Hargreaves reiterates a Sector Weight rating on the shares.

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