RBC Capital analyst Amit Daryanani lowered his price target on Qualcomm (QCOM) to $75 ahead of the company's earnings tomorrow, citing his supply chain conversations suggesting a "muted" iPhone (AAPL) and Samsung (SSNLF) GS9 unit shipment growth along with lackluster smartphone demand in China. Longer term, the analyst keeps his Outperform rating on Qualcomm with a view toward potential catalysts being "licensing resolution", the close of NXP Semiconductors (NXPI) deal or a "material buyback, and cost reductions.

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

Susquehanna analyst Christopher Rolland raised the firm's price target on Impinj (PI) to $150 from $140 and keeps a Positive rating on the shares. The firm said they posted a solid print with additional upside driven by the licensing win from NXP Semiconductors (NXPI). Customer engagements and new RFID markets continue to broaden the opportunity.

BofA raised the firm's price target on Texas Instruments (TXN) to $190 from $175 and keeps a Neutral rating on the shares. TI's small Q1 beat and inline but sequentially rising Q2 sales guidance, "while modest, potentially marks a recovery inflection in industrial chip demand," with positive read-across for U.S. peers such as Analog Devices (ADI), Microchip (MCHP), NXP Semiconductors (NXPI) and On Semiconductor (ON), the analyst tells investors. However, despite an expected recovery, TI's sustained high capex intensity could keep reported calendar year 2024-26 pro-forma EPS below $6 per share, the analyst added.

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