CLSA analyst Srini Pajjuri said recent supply chain checks by the Asia Tech team indicate Intel (INTC) may have secured a portion of the Apple (AAPL) iPhone 7 modem business. The team believes Intel may have secured a 30-40% allocation, at Qualcomm's (QCOM) expense. If true, it would mean about a 4% negative impact to his Qualcomm revenue estimate and about 2% impact to his earnings estimate, the analyst wrote. Pajjuri views the news as an incremental positive for Intel that should help sentiment, but said it is not enough to change the firm's Underperform thesis on Intel 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

Pre-earnings options volume in Intel is normal with calls leading puts 2:1. Implied volatility suggests the market is anticipating a move near 5.6%, or $1.96, after results are released. Median move over the past eight quarters is 7.8%.

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

Intel (INTC) is scheduled to report results of its fiscal first quarter after the market close on April 25, with a conference call scheduled for 5:00 pm ET. What to watch... 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

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