Oklo stock tumbles as Financial Times scrutinizes valuation
Investing.com - Jefferies maintained its Hold rating on Apple (NASDAQ:AAPL) with a price target of $205.82, citing signs of slowing momentum for the company’s new iPhone lineup. The tech giant, currently trading at $255.46 and commanding a market cap of $3.79 trillion, is showing signs of being overvalued according to InvestingPro analysis, despite its strong 17.52% gain over the past six months.
The investment firm’s tracking data indicates that the iPhone 17 Pro’s lead time has decreased in China and Hong Kong markets, showing shorter waiting periods compared to last year, while remaining similar year-over-year in other markets.
For the iPhone 17 Pro Max model, Jefferies observed that current lead times are similar to last year’s figures but have shortened specifically in the United States and China markets.
The standard iPhone 17 model continues to show high lead times across most markets, though these are falling in all regions except the United States, where there is currently no lead time reported.
Jefferies also noted that resale prices for the iPhone 17 Pro Max in Hong Kong have declined by an average of 51% week-over-week, though they remain higher than last year, and suggested that higher average selling prices for the iPhone 17 Pro could potentially offset a less favorable product mix.
In other recent news, Apple Inc. has developed an internal ChatGPT-style app to test features for a major overhaul of Siri, planned for next year. The app, codenamed "Veritas," is being utilized by Apple’s AI division to explore new capabilities for its voice assistant. In financial developments, Evercore ISI raised its price target for Apple to $290 from $260, maintaining an Outperform rating due to strong potential for iPhone upgrades. BofA Securities also reiterated a Buy rating with a $270 price target, citing promising demand signals for the iPhone 17 series, aided by increased carrier incentives.
Additionally, Apple is reportedly in preliminary discussions with Intel Corp. for a potential investment, though DeepWater Asset Management’s Gene Munster suggests this move is politically motivated rather than strategically beneficial. Apple has also requested the European Union to repeal or scale back the Digital Markets Act, arguing that the law creates business challenges in the region. These recent developments reflect Apple’s ongoing efforts to innovate and navigate regulatory landscapes while maintaining strong market performance.
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