Apple (AAPL) was in focus on Wednesday as Evercore ISI reiterated it as the firm’s top pick in technology hardware, citing strength in the iPhone.
Shares were little changed in premarket trading.
“AAPL remains our top pick across our hardware coverage, as we believe it’s poised to outperform [near-term] expectations on a strong iPhone cycle and the potential around an AI Siri upgrade,” analysts at the firm wrote in a note to clients.
The firm also said it remained positive on Dell (DELL) and HP Enterprise (HPE) in the hardware space, as Dell is “best-in-class in supply chain procurement,” while HPE appears positioned to deal with the memory cycle “better than historically given its mix shift post Juniper ([more than 50% networking revenues]).”
