JMP Securities analyst Alex Gauna upgraded Avago Technologies (AVGO) to Outperform after his channel checks indicated iPhone 6 demand has remained strong and "endured longer than has been the norm with iPhone refreshes." Further, "multiple" sources tell the analyst that Avago's content and share will hold steady or improve slightly with Apple's (AAPL) new iPhone 6S and then "advance solidly" next year with the iPhone 7. Gauna has a $165 price target for shares of Avago. The chipmaker and Apple supplier closed yesterday down $1.99 to $127.17 after the iPhone maker unveiled new products during an event in San Francisco.

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