Citi analyst Jim Suva added Apple to his firm's U.S. Focus List following last night's Q1 earnings report. The analyst keeps a Buy rating on the shares with a $200 price target. Sentiment on Apple stock in the past few weeks swung "too far negative," Suva tells investors in a research note. The analyst believes a "very large" stock buyback is likely to occur. Assuming 50% of the $163B is used for stock buybacks, the company's shares outstanding would be reduced by 10%, the analyst points out. He believes this is a "very material positive that investors should be mindful of and not be underweight the stock as this provides strong valuation support."

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