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Apple investors fixated on the soaring cost of memory chips are missing the bigger picture, according to one analyst.
While Bernstein analyst Mark Newman estimates that component costs for the next iPhone could be 15% higher this year, he doesn’t see that as a reason to be worried. Newman hiked his price target on Apple’s stock
AAPL to $340 from $325 on Tuesday, writing that “the bigger story will be Apple Intelligence / Siri 2.0 coming sometime this year.”
