'Meta wants a big bite of Apple,' Needham says

By Reuters News

** Needham maintains a "hold" stance on Apple AAPL.O, cites investor concerns about Apple's AI strategy, margin pressure, rising prices and China exposure

** However, brokerage says the biggest risk for Apple shareholders is that Meta META.O or another AI-first rival reduces reliance on the iPhone and weakens Apple's ecosystem

** Shares of the iPhone maker marginally down, while META marginally up premarket

** Apple may need to lower App Store fees to stay competitive with Meta's lower-cost offering, adds Needham

** Up to last day's close, the stock of AAPL had risen about 22% and META up ~10% YTD

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