Wedbush analyst Daniel Ives notes that according to a media report from Nikkei, Apple is seriously contemplating plans to move potentially 15%-30% of its iPhone production out of China over time due to trade tensions. The analyst highlights that the Foxconn factory in China is "the linchpin of Apple's iPhone production and speaks to why Cook & Co. have become the poster child" for this U.S./China trade war battle, which he believes has resulted in a "$20-$25 overhang" on Apple's stock. In a best-case scenario, Ives sees Apple being able to move 5%-7% of its iPhone production likely to India in the next 12-18 months. Moving 15% of its iPhone production from China to other regions would take at least 2-3 years given the complexity and logistics involved in such an endeavor and clearly have its share of risks, he adds. Ives reiterates an Outperform rating and a $235 price target on the shares.

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