UBS maintains a "Neutral" rating on Apple with a price target of $236, reflecting recent data on iPhone 16 availability. Meanwhile, JPMorgan upgraded Apple to "Overweight" with a target of $265, as the company navigates various market challenges and opportunities. In related news, an Apple insider sold over $45 million in shares, and the company is facing a $3.80 billion antitrust lawsuit regarding iCloud storage.
Semiconductor stocks faced a decline following ASML's disappointing sales forecast, raising concerns over global chip demand. Despite a weak start to the tech earnings season, strong AI demand persists, with significant investments from AI supply chain companies indicating a positive long-term outlook. However, traditional tech segments like smartphones and PCs show mixed demand, suggesting a cautious approach for investors focusing on AI chip beneficiaries.
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