April 29, 2024 - $Apple (AAPL.US)$ shares increased 3.18% to $174.68 in trading on Monday.
Bernstein Upgraded its Rating to Outperform
Apple Inc. will release its second-quarter earnings on May 2. According to an analyst at Bernstein, the expectations are set for $90.7 billion in revenue and earnings per share of $1.52.
"The stock has derated significantly amid weak revenue growth, and investors worry that Apple's China business is structurally impaired. We believe that Apple's business prospects are largely unchanged...and believe the pullback provides an attractive entry point," Sacconaghi wrote in a research note.
Bernstein upgraded the stock from Market Perform to Outperform and kept a target price of $195.
Apple Renews Talks With OpenAI for iPhone AI Features
According to Bloomberg, Apple Inc. is reportedly in renewed talks with OpenAI, exploring the integration of the latter's technology into future iPhone functionalities. The report indicates that discussions between the two firms have started, focusing on the prospective agreement details and how OpenAI's technology might be incorporated into Apple's next mobile operating system, iOS 18.