Apple Stock Stuck In Neutral? Analyst Says Sales Inch Up, But Growth Concerns Linger
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Apple's stock price is stagnant due to concerns about growth and weak upgrade rates. KeyBanc maintains a lower hardware revenue forecast for Apple, citing Chinese competition and uncertainty surrounding App Store regulations. Despite a 6% month-over-month increase in hardware spending, year-to-date spending is down 20% compared to last year. Analysts expect a decline in second-quarter hardware sales, but the drop may be lower than estimated. Overall, the analyst sees limited movement in Apple's stock price and low conviction in a growth inflection.
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