JPMorgan analyst Samik Chatterjee raised his price target for Apple to $300 from $296 ahead of Tuesday's fiscal Q1 earnings report. The stock closed Friday at $318.31. While the analyst expects a "strong quarter" in relation to revenues hitting the high-end of guidance and earnings exceeding consensus, with Apple shares trading at 19.7 times price-to-earnings on his 2021 estimates, he sees a "high bar to clear relative to investor expectations heading into the print." The re-rating of Apple shares has been justified given the transformation towards Services, says Chatterjee, who expects further re-rating with increasing mix of profits from Services. However, his conversations with investors indicate that the current valuation prices in "material earnings upside." Chatterjee continues to recommend shares of Apple for long-term shareholders. He would just "be wary of the high bar of investor expectations" into the Q1 results.

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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