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Jefferies upgrades Apple on potential for earnings beat
Edison Lee, a Jefferies analyst, upgraded Apple stock to Hold from Underperform in a research note released on Tuesday, pointing…
Edison Lee, a Jefferies analyst, upgraded Apple stock to Hold from Underperform in a research note released on Tuesday, pointing to the possibility that the next earnings report could exceed expectations. The analyst’s focus is on China, where Lee estimates iPhone sales rose by approximately 10% in the first two months of the June quarter, fueled by strategic discounts. This underpins his prediction of an 8% revenue increase for Apple overall in the quarter, surpassing the company’s guidance of low-single-digit percentage growth.
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