Ahead of the Q2 earnings announcement, Bernstein's analysts upgraded the rating from 'buy' to 'hold'. $Apple (AAPL.US)$ Backgrounded by the struggles in China, Apple shares have been underperforming other competitors and the overall market as iPhone sales slow down. The current weakness in China is considered cyclical rather than structural, with no significant long-term concerns. Furthermore, the analyst noted that Apple's business in China has historically shown high volatility as the customer base remains sensitive to product features. It is believed that the replacement cycle and the tailwind from new AI features will support the sales of the iPhone 16.
Apple to announce second quarter earnings.
Apple will announce its second quarter earnings.
Apple will announce its second-quarter earnings on Thursday, May 2nd. Wall Street expects Apple's revenue and earnings to be impacted in the short term due to a decline in hardware sales.
Analysts expect the company's revenue to decrease by 4.7% compared to the previous year. Furthermore, due to the challenges in the largest market, China, where iPhone sales are slowing down, Apple stock is underperforming compared to its competitors and the overall market.

Good evening, Moomoo users!Tonight's analysis of NY stocks.
Market Overview
The US market started with the Dow Jones Industrial Average, consisting of high-quality stocks, at 38,819.61, up 29.18 dollars. The Nasdaq Composite Index, with a high proportion of technology stocks, began with a decrease of 71.52 points at 16,031.93. The S&P 500, consisting of 500 major US stocks, started at a decline of 10.33 points at 5,139.09.
$Dow Jones Industrial Average (.DJI.US)$
$Nasdaq Composite Index (.IXIC.US)$
$S&P 500 Index (.SPX.US)$
Top News
NVIDIA's CEO aims to make AI semiconductors 'even bigger' to ease shortages.
Top U.S. semiconductor company. $NVIDIA (NVDA.US)$Continues to perform strongly. At the self-owned event held on the 18th, the company announced new semiconductor products for advanced AI (artificial intelligence) generation. CEO Jensen Huang mentioned the need for large quantities of semiconductors to power the increasingly advanced AI.