Investing.com -- Bernstein kept its Outperform rating and $370 price target on Apple in a note on Friday, but it warned investors that rising memory chip costs could hurt the iPhone maker's gross margin and earnings in the December quarter. Still guessing which names to buy? Our AI rebuilds its stock picks at the start of every month. The list is beating the market by 120%. See what's on it » "Our detailed BOM and mix analysis points to downside risk to Apple's December-quarter gross margin and EPS, although stronger international pricing provides a partial offset," analyst Mark Newman wrote. BOM is the bill of materials. Bernstein cut its fiscal first-quarter EPS estimate to $2.87 from $3.00. The new figure is 2% below the consensus of $2.
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