Shares of Apple, Inc. (NASDAQ:AAPL) fell modestly in premarket trading on Friday, and this assumes importance because all of its Magnificent 7 peers are staring down the barrel.
On Thursday, after the market closed, Apple announced that its fiscal year 2024 third-quarter revenue and earnings per share both surpassed expectations and showed growth compared to the previous year. The stock did not respond positively in the after-hours session, as skeptics highlighted concerns about weakness in China.
On the earnings call, Team Tim Cook guided September quarter revenue above the Street estimate and also talked up the company’s AI prospects.
Reacting to the results, Wedbush analyst Daniel Ives upped his price target for the stock from $275 …
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