Apple shares extend gains as Loop Capital upgrades, assigns new Street-high target

Apple (AAPL) PT Raised to $260 at CFRA, 'We expect iPhone revenue to accelerate to at least 6%-8%'

CFRA analyst Angelo Zino raised the price target on Apple (NASDAQ: AAPL) to $260.00 (from $240.00) while maintaining a Buy rating.

The analyst comments "We up our 12-month target to $260 from $240, shifting to a P/E of 31x to our CY 26 EPS of $8.30,... More

iPhone volumes better than expected: JPMorgan

According to JPMorgan analysts, the global smartphone industry is showing signs of recovery, with iPhone shipments outperforming expectations in the second quarter of 2024.

The US investment bank said in a note Tuesday that the IDC's quarterly smartphone shipment tracker revealed a modest -1% sequential decline for 2Q24, which contrasts with the typical seasonality of a +2% increase.

Despite this decline, JPMorgan noted the... More

Apple (AAPL): iPhone cede incremental share in the month of June

UBS analysts highlighted a challenging month for Apple (NASDAQ: AAPL) iPhone sales, noting that the company saw minimal growth compared to its competitors in June, according to preliminary data from Counterpoint.

In their note, UBS pointed out that "iPhone unit sell-through was up roughly +1% in the month compared to global smartphone growth of ~4%," indicating a marginal performance that trailed the... More

Smartphone market rose in Q2 as Apple, Samsung benefit from premiumization trend - Reuters

Worldwide smartphone shipments increased by more than 6.5% in the second quarter, driven by Samsung Electronics and Apple (NASDAQ: AAPL), a report from Reuters said on Monday, citing preliminary data from IDC showed.

Despite the positives, a full recovery in demand is yet to arrive, adds Reuters, highlighting that it still remains challenged in some markets.

The publication said the research firm showed that global shipments grew for the fourth consecutive quarter as smartphone makers hope... More