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Wall Street's Apple euphoria 'misplaced,' Jefferies analyst says

News Snapshot:

Apple (AAPL) is reportedly preparing to launch its newest iPhone SE sometime next week, and it looks like it’s found its AI partner — Alibaba (BABA) — to help it roll out Apple Intelligence in China. Things appear to be looking up for the tech giant. And that’s translated to a slight reprieve for the company’s stock, which is up just more than 1% over the last five days compared to a decline of 6% year to date. But at least one analyst isn’t holding his breath. Jefferies equity research analyst Edison Lee says the market optimism surrounding the latest…

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