Apple stock could drift lower on earnings as bullish estimates are dialled back

) stock may drift lower following its June quarter earnings, as analysts at Lynx Equity Strategies caution against overly optimistic expectations.

Analysts at Lynx Equity Strategies also highlight potential issues with Apple's AI development compared to Google. Despite maintaining a $240 price target for Apple, analysts at Lynx are cautious about the immediate future."When we raised our PT to $240 a few days after WWDC, we explicitly took the stance that at launch, the iPhone 16 would support only internally developed AI applications," they explained.

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