Here come Apple’s quarterly results – What traders are watching

[Pelican Press 0]

Here come Apple’s quarterly results – What traders are watching

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on the iPhone cycle led by AI upsides.” Citi expects sales in the previous quarter to come in below estimates and is remaining ************* on iPhone demand in 2024. However, the firm says unit demand could rise in 2024 as Apple rolls out generative AI features. “We believe 1HCY24 bad news is largely priced-in and investors are looking through the upcoming earnings to WWDC24 event in June for AI updates,” analyst Atif Malik said in a note on April 29. Malik reiterated his buy rating on the stock ahead of the announcement while notching down his price target to $210 from $220. TD Cowen’s Sankar also expects that an AI strategy rollout at the WWDC event could be next major catalyst for shares. “We think a compelling AI strategy could matter more to stock sentiment and valuation over [the] medium term as it will help investors better gauge AAPL’s product competitiveness in the coming GenAI market,” Sankar wrote in an April 29 note.

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Breaking News: Investing,Wall Street,Business,Markets,Stock markets,

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,China,Earnings,iPhone,business news
#Apples #quarterly #results #traders #watching

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