BofA analyst Wamsi Mohan raised his price target for Apple to $340 from $330 and says he expects Apple to report "strong" revenue in the December quarter, modeling revenue at $89B, at the high end of the $85.5B-$89.5B guidance range given strong sales of accessories and strong sales of iPhone 11, which proves Apple's brand loyalty and retention rates and shows that the company can count on a steady stream of phone sales despite no step function changes in design. The 5G cycle offers multi-year visibility on iPhone sales and this, combined with double-digit Services revenue growth, has driven the multiple higher, Mohan contends. He expects an in-line to better guide for March, with potentially more strength near-term from iPhones given easy sell-in compares from March 2019 and consistent with his firm's proprietary BofA Apple Indicator. The analyst reiterates a Buy rating.

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