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MARKETS LIVE BLOG:

STOCKS CLIMB AT OPEN AFTER U.S. INFLATION DATA

Fed's preferred inflation gauge shows further signs of cooling in October

JPMorgan analyst remains bullish on Apple stock amid macro uncertainty

Yahoo Finance Video

Yahoo Finance Live’s Brian Sozzi discusses a JPMorgan analyst's bullish rating on Apple.

Video Transcript

BRIAN SOZZI: All right, before we head to break, we continue to monitor analyst sentiment around Apple. Following reports of iPhone production cuts, JP Morgan analyst Samik Chatterjee sticking with a bullish rating on Apple, despite the global economic slowdown.

But he does serve up a dose of caution. Says Chatterjee, it is undeniable that the macroeconomic environment is having an impact on the product cycle, as we believe it is currently driving consumers to opt for value by either choosing higher featured models, like the iPhone 14 Pro or Pro Max, or choosing lower priced models, like the iPhone 13 over the less feature rich iPhone 14 and 14 Plus.