(This is CNBC Pro's live coverage of Monday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A major streaming company and a tech giant were among the stocks being talked about by analysts on Monday.
Piper Sandler upgraded Netflix to overweight from neutral. Meanwhile, Jefferies lowered its rating on Apple to hold from buy. Check out the latest calls and chatter below.
All times ET. 5:41 a.m.
: Jefferies downgrades Apple Oversized expectations for the iPhone could hurt of Apple lower, according to Jefferies. Analyst Edison Lee downgraded the stock to hold from buy, and his price target of $212.92 implies more than 6% downside from Friday's close.
The analyst said near-term expectations for the iPhone 16 and 17 are "too high," seeing weaker-than-expected initial demand. Lee also believes that the artificial intelligence capabilities of its smartphone technology are not likely to reach commercialization for another two to three years. "Unlike AI servers, smartphones lack high-speed memory and advanced packaging tech that allow fast data transfer between AP and memory, thus limiting their AI capabilities," he wrote in a note to clients.
"To expect an accelerated smartphone replacement cycle now due to AI is premature, in our view." Apple has surged nearly 18% in 2024 and more than 33% in the past six months. AAPL YTD mountain AAPL in 2024 — Sean Conlon 5:41 a.
m.: Piper Sandler upgrades Netflix to overweight Netflix's high va.