Longbow analyst Shawn Harrison downgraded Apple to Neutral from Buy saying the current iPhone cycle is "good, not great." The iPhone X "introduced price elasticity and iPhone reception has been lukewarm," Harrison tells investors in a research note. His channel checks point to mid- to high- single-digit iPhone shipment growth in fiscal 2018 versus the consensus estimate of up 11%. The analyst reduced his iPhone shipment forecast for the year below consensus to 233M units, and cut his earnings per share estimate for fiscal 2018 by 29c to $11.25. Harrison does not have a price target for Apple shares. The iPhone maker closed yesterday down 90c to $176.19.

In a regulatory filing, Apple disclosed that its CFO Luca Maestri sold 53.2K shares of common stock on April 11th in a total transaction size of $9.26M.

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

Friday's total option volume of 58.8 million contracts resulted in net open interest growth of 5.70 million calls and 5.17 million puts. Apple (AAPL), Tesla (TSLA), NVIDIA (NVDA) and Advanced Micro Devices (AMD) saw the greatest growth. Top five new positions opened include 95k Meta Platforms (Facebook) (META) 6/18 weekly 1030 calls, 42k Tesla (TSLA) Apr-24 177.5 calls, 40k V F Corp (VFC) Mar-25 10 puts, 30k Alphabet Class A (GOOGL) Apr-24 165 calls and 30k Tesla (TSLA) 6/18 weekly 100 calls.

Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Snap... To see the rest of the story go to thefly.com. See Story Here

Notable profits for the buyer who lifted the $3.00 offer for 7,000 Apple (AAPL) 5/31 weekly 185 calls yesterday at 10:08ET when underlying shares were trading at $176.70. Shares closed at $176.55, and the calls at $3.39 for a mark-to-market profit of 13%, or $270K, on the $2100K outlay.

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Salesforce (CRM) is in advanced talks to acquire Informatica (INFA) but the price being discussed is below Informatica's closing stock price of $38.48 as a result of the recent jump, Lauren Thomas, Laura Cooper and Dana Cimilluca of Wall Street Journal report, citing people familiar with the matter. 2. Apple (AAPL) denied violating a court order governing its App Store and urged a California federal judge to reject a request by "Fortnite" developer Epic Games to hold it in contempt, Reuters' Mike Scarcella reports. Apple made the arguments in a filing to U.S. District Judge Yvonne Gonzalez Rogers in Oakland, who presided over Epic's lawsuit in 2020 accusing Apple of violating antitrust law with its tight controls over how consumers download apps and pay for transactions within them. The Apple filing criticized what it called an attempt by Epic to make Apple's "tools and technologies available to developers for free." 3. Netflix (NFLX) is the forgotten tech giant - but its upcoming earnings report should help investors remember why they loved the stock in the first place, Paul R. La Monica writes in this week's edition of Barron's. The streaming-media leader was once part of the Nasdaq's FAANG club, an acronym traders used to describe Facebook parent Meta Platforms (META), Amazon.com (AMZN), Apple, Netflix, and Google owner Alphabet (GOOGL). But FAANG has since been replaced by the Magnificent Seven, a group that includes the four largest FAANGs, as well as Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA)...and excludes Netflix. But with Netflix set to report its first-quarter earnings on April 18, investors shouldn't sleep on the stock, the author says. 4. A24's "Civil War" won this weekend's box office with a $25.7M debut, making it the biggest opening ever for A24. The dystopian action movie sports a B- CinemaScore, with the audience skewing heavily male - 73%. The debut is also the biggest for an R-rated movie this year. 5. Timken (TKR) saw a positive mention in this week's edition of Barron's.

"Box Office Battle" is The Fly's weekly roundup of what movies topped the weekend's box office. A24’s “Civil War”... To see the rest of the story go to thefly.com. See Story Here

Apple (AAPL) denied violating a court order governing its App Store and urged a California federal judge to reject a request by "Fortnite" developer Epic Games to hold it in contempt, Reuters' Mike Scarcella reports. Apple made the arguments in a filing to U.S. District Judge Yvonne Gonzalez Rogers in Oakland, who presided over Epic's lawsuit in 2020 accusing Apple of violating antitrust law with its tight controls over how consumers download apps and pay for transactions within them. The Apple filing criticized what it called an attempt by Epic to make Apple's "tools and technologies available to developers for free." Reference Link