UBS Keeps Apple Neutral as iPhone Demand Falters
Apple Inc.'s (AAPL) neutral rating has been reaffirmed by UBS, which also maintained its price target of $296. According to recent tracking data, initial demand for the iPhone 18 Pro series has been relatively subdued.
The firm's analysis suggests that demand may not be as robust as anticipated, with an average global wait time for the iPhone 18 Pro Max currently at about 23 days - a decrease from the previous year. This reduction in wait times can be interpreted as a sign of moderate demand, particularly in key markets like China.
Apple's GF Value™ indicates that the stock is modestly overvalued by 17.3%, with its current price of $336.13 exceeding its calculated value of $286.58. This suggests a limited margin of safety for potential investors.