UBS Cautious on Apple as China Demand Remains Weak

UBS Group has maintained its 'Neutral' rating on Apple (AAPL.US) and set a price target of $296. The investment firm noted that demand for the iPhone 18 in China has marginally stabilized, but the country remains the biggest vulnerability.

The average wait times for the iPhone 18 Pro and Pro Max increased by approximately three days and two days, respectively, compared to the previous week, according to UBS Group's Evidence Lab. However, the year-on-year decline in wait times has narrowed to about one day, indicating that demand outside China is now nearly on par with last year.

Evercore ISI, on the other hand, raised its price target for Apple from $365 to $380 and maintained an 'outperform' rating. The firm believes that shipment demand behind the new models could be strong and that pricing may rise by more than 20%.