This is Mac OSKIN. A positive note on Apple shares, noise around a DOJ suit, and Lily Gladstone grabs a globe.

It is Monday, 8th of January, 2024.

I'm Ken Ray, and this is news from Maco-S-Ken brought to you by yours truly and

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Apple shares have fallen about 18 bucks since mid-December.

While Evercore analyst Amadary Anani is aware of investor concerns,

a note he wrote over the weekend has the analyst

arguing that reaction to those concerns has been overdone. Apple 3.0 ran part of the

note he wrote addressing those concerns.

While he agrees that iPhone sales are down in China, he thinks that drop is being

offset by strength in the US and other emerging countries like India.

Do you think softening sales can be offset through gross margin expansion and

op-ex control and, while the Apple Watch ban in the US is certainly not a positive

he and his call it manageable having an impact on sales of less than 1%.

That said it's unclear from the part of the note posted whether he's referring

to the short band that took place over the holidays or the possibility of the band's reinstatement.

Whatever the case, he sees such fears abating as focus shifts to more positive news, like the launch of Apple Vision Pro, expected by some as soon as next month. Daryanani has an outperform rating on Apple's shares.

His price target on the shares is 220 bucks.

Notes like those never really stop, but expect them to ramp up through the end of this month.

That'll be ahead of Apple's first quarter fiscal year 2024 earnings call, which now has a date and time.

Sometime in the last few days Apple updated its investor relations page with that information.

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