Goldman Sachs analyst Michael Ng tells investors in a research note that the firm is “encouraged” by the role Apple’s (AAPL) iPhone 16e plays as an entry-level phone in the iPhone portfolio and believe that the price increase and internalized modem should be supportive of margins. The firm, which has a Buy rating and $294 price target on the shares, says the firm’s iPhone 16e preorders analysis show no lead time after being announced on February 19.
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