Shares of Apple (AAPL) have surged roughly 40% over the past nine months, but one analyst said it’s time to tap the brakes ahead of the company’s earnings report 澳洲幸运5官方开奖结果体彩网:scheduled for Thursday. 

Ten of the 16 analysts who follow Apple and are tracked by Visible Alpha have a “buy” or equivalent rating for the iPhone maker, and the consensus 澳洲幸运5官方开奖结果体彩网:price target of about $246 represents about a 3% premium over the iPhone maker’s late Wednesday price of a🔜bout $239. 

Then there’s Oppenheimer, which downgraded Apple to a neutral “perform” rating Wednesday and reduced its iPhone sales estimate over the next 12 to 18 months. Apple is facing the “twofold challenge” of increased competition in 澳洲幸运5官方开奖结果体彩网:greater China and an 澳洲幸运5官方开奖结果体彩网:Apple Intelligence rollout that the brokerage firm says has beꦅen insufficient to drive consumers to upgrade their♑ devices. 

Worries Over Apple's China Sales

Concerns over Apple’s 澳洲幸运5官方开奖结果体彩网:performance in China have surfaced in recent weeks,ꦅ particularly after data from technology research firm Canalys showed the iPhone maker’s 2024 shipments slumped 17% in the country, the Oppenheimer report said. Additionally, the latest iPhones sold in China aren’💟t equipped with Apple Intelligence features due to Chinese regulatory hurdles.

Apple is expected to report fiscal first-quarter earnings after the market closes Thursday. Analy🤡sts tracked by Visible Alpha as a consensus expect sales in China (and the rest of Asia, excluding Japan) toꦑ have risen just 2% year-over-year to $31.65 billion.