BUZZ-"Meta hopes to take a big slice of the pie from Apple," says Needham

October 1 - ** Needham maintained its "hold" rating on Apple (AAPL.O), citing concerns among investors about Apple's artificial intelligence strategy, pressure on profit margins, price increases, and risks in the Chinese market.

** However, the brokerage stated that the biggest risk facing Apple shareholders is that Meta META.O or other AI-focused competitors could reduce user dependence on the iPhone, thereby weakening Apple's ecosystem.

** In pre-market trading, the iPhone manufacturer's share price edged down slightly, while Meta's share price rose slightly.

** Needham added that Apple may need to reduce its App Store commission rate to remain competitive with Meta's low-cost services.

** As of the previous trading day's close, Apple (AAPL) shares were up about 22% so far this year, while Meta shares were up about 10%.

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