Wall Street's Top Analyst Calls: Apple Upgraded, AMD Downgraded

Apple upgraded to Neutral from Sell by MoffettNathanson with a $225 price target. AMD downgraded to Neutral from Buy by Seaport Research due to slowing growth in its AI accelerator business. Other upgrades include Brinker to Outperform from In Line by Evercore ISI, Leidos to Outperform from Sector Perform by RBC Capital, and Copart to Buy from Hold by HSBC. Downgrades also include Dollar Tree to Reduce from Hold by Gordon Haskett, Texas Roadhouse to In Line from Outperform by Evercore ISI, Brookfield Asset Management to Neutral from Buy by BofA, and Duolingo to Neutral from Buy by DA Davidson.

Apple Inc. (AAPL) stock received a neutral upgrade from MoffettNathanson, with a price target of $225, while AMD (AMD) was downgraded to neutral from buy by Seaport Research due to slowing growth in its AI accelerator business. Other notable changes include upgrades for Brinker, Leidos, and Copart, and downgrades for Dollar Tree, Texas Roadhouse, Brookfield Asset Management, and Duolingo.

MoffettNathanson's upgrade for Apple comes after a favorable court ruling allowing Google to continue paying Apple for default search placement on devices, contributing to Apple's revenue stream. The ruling removed investor uncertainty about this revenue stream, which had been a concern during the lengthy antitrust proceedings [1]. Additionally, Apple is preparing for the September 9 unveiling of the iPhone 17 Air, which is expected to feature a thinner design but with fewer cameras and potentially higher prices [1].

AMD's downgrade reflects concerns about the slowing growth in its AI accelerator business. The company's AI division has been a key driver of growth, but recent performance has raised questions about its future trajectory. Seaport Research cited slowing growth in AI accelerator sales and the increased competition in the AI hardware market as reasons for the downgrade.

Other notable upgrades include Brinker to Outperform from In Line by Evercore ISI, Leidos to Outperform from Sector Perform by RBC Capital, and Copart to Buy from Hold by HSBC. These upgrades reflect positive outlooks on the companies' future performance and growth prospects.

Dollar Tree, Texas Roadhouse, Brookfield Asset Management, and Duolingo all received downgrades. Dollar Tree was downgraded to Reduce from Hold by Gordon Haskett due to concerns about its growth prospects. Texas Roadhouse was downgraded to In Line from Outperform by Evercore ISI due to slowing sales growth. Brookfield Asset Management was downgraded to Neutral from Buy by BofA due to concerns about its exposure to the energy sector. Duolingo was downgraded to Neutral from Buy by DA Davidson due to concerns about its growth prospects.

Investors should closely monitor these changes and the companies' earnings reports to gauge the impact of these upgrades and downgrades on their future performance. The market's reaction to these changes will provide insights into the companies' growth prospects and the overall market sentiment.

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[1] https://moneycheck.com/apple-inc-aapl-stock-iphone-17-launch-and-google-revenue-deal-drive-stock-higher/