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Apple may face more intense pressure on profitability than the market is pricing in, according to brokerage Lynx Equity Strategy#LYNX . It sees "more downside" for stocks even after a drop of about 10% so far this year.
The company stated that its channel checks indicate rising memory costs, as Apple now faces an "unpleasant prospect of a sudden increase in NAND flash memory prices" after talks with longtime supplier Kioxia failed.