Reported about 15 hours ago
Jefferies has upgraded Apple Inc. (AAPL) stock to 'Hold' from underperform, increasing the price target to approximately $188 per share, citing a 15% growth in sales from April to May and a 19% increase in iPhone sales during the June 18 Chinese shopping holiday. Despite this, analysts remain cautious about future demand, noting that successful June results may signal slower sales in September, primarily due to the lack of new features and concerns surrounding the upcoming products. Long-term risks, including potential revenue declines from the App Store, are also highlighted.
Source: YAHOO