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开奖号码历史查询: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开奖号码历史查询:price target of about $246 represents about a 3% premium over the iPhone make✨r’s late Wednesday price of ab🍌out $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开奖号码历史查询:greater China and an 澳洲幸运5开奖号码历史查询:Apple Intelligence rollout that the brokerage firm says has been insufficient to drive consumers to upg🎐rade their devices. 

Worries Over Apple's China Sales

Concerns over Apple’s 澳洲幸运5开奖号码历史查询:performance in China have surfaced in recent weeks, particularly after data from technology research firm Canalys showed the iPhone maker’s 2024 shipments slumped 17% in the country, the Oppenheim𓆏er 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. Analysts ꧟tracked by Visible Alpha as a consensus expect sales in China (and the rest of Asia, excluding Japan) to have risen just 2% year-over-yea🌞r to $31.65 billion.