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.

Hello Moomoo users, good evening!This is the forecast for tonight's New York stock market.
Market Overview
U.S. market start: The Dow Jones Industrial Average, consisting of high-quality stocks, opened at 38,819.61 dollars, up 29.18 dollars. The Nasdaq Composite Index, with a high proportion of technology stocks, started at 16,031.93, down 71.52 points. The S&P 500 Index, consisting of 500 large-cap stocks in the U.S., started at 5,139.09, down 10.33 points.
$Dow Jones Industrial Average (.DJI.US)$
$Nasdaq Composite Index (.IXIC.US)$
$S&P 500 Index (.SPX.US)$
Top News
NVIDIA's CEO to make AI semiconductors "even larger" to ease the shortage.
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.