Deutsche Bank analyst Jeriel Ong raised his price target for Apple to $230 from $210 while keeping a Hold rating on the shares. The analyst sees iPhone unit demand better than present Street expectations. However, with the stock rising 13% intra-quarter, earnings upside driven by iPhones is largely priced in, Ong tells investors in a research note. When the analyst considers Apple's valuation with the company's fundamental levers for further earnings upside, he sees a "balanced reward profile relative to the risks." Ong says that while non-iPhone hardware revenues have exhibited mid-to-high teens year-over-year growth for three straight quarters, he remains "dubious that such growth can sustain over a multi-year time frame," especially when Wearables and Services revenues remain tied to iPhone growth.

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