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HomeBusinessUBS Maintains Neutral Outlook on Apple

UBS Maintains Neutral Outlook on Apple

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UBS analysts reaffirmed their Neutral rating and a $236.00 price target on Apple (NASDAQ:AAPL), pointing to stable demand and improved supply for high-end iPhones as tracked by UBS Evidence Lab data. This data, which monitors iPhone availability across 30 markets, indicated that current wait times for iPhones are either shorter or roughly the same as last year, suggesting a balance of softer demand alongside more efficient supply chains.
Although Apple recently launched Apple Intelligence for US English, this update has not resulted in any week-over-week increase in wait times, indicating limited immediate demand impact from this AI-driven feature. While Apple may eventually see shifts in consumer interest as users become more familiar with Apple Intelligence, UBS remains cautious, projecting that this feature alone is unlikely to significantly influence demand during the upcoming holiday season. UBS’s current estimate for Apple’s December 2024 quarter remains at 78 million iPhone units, a figure expected to be flat year-over-year.

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