Hedge funds 'aggressively' sold tech stocks in June - Goldman Sachs
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Evercore ISI on Apple (AAPL): 'Solid quarter out of the App Store at 13% growth'
July 1, 2024 4:10 PM EDTEvercore ISI analyst Amit Daryanani reiterated an Outperform rating and $250.00 price target on Apple (NASDAQ: AAPL).
The analyst comments "App Store revenue grew +12% in June, a slight step down from the 15% rate in May as comps got more challenging. This brings the Jun-qtr growth rate to 13%, which could support upside to current Street... More
Despite discounting in China, iPhones lost share in May, US weak: UBS
July 1, 2024 6:59 AM EDTDespite heavy discounting during China's "618" shopping festival, UBS analysts warned that Apple (NASDAQ: AAPL) iPhone sales continue to struggle.
"iPhone 'sell-through' remained soft, declining 2% YoY (Source: Counterpoint)," the bank's note reads, marking the fifth consecutive month of year-over-year decline.
The weakness wasn't limited to China. "The US was weak despite an easy comp," UBS highlights. US sales reportedly fell a significant 16% year-over-year. Europe offered a rare bright... More
