UBS Keeps Neutral Stance on Apple Amid Mixed Demand Signals

UBS has maintained its Neutral rating on Apple Inc. with a price target of $296.00, despite recent developments that could positively impact demand for the iPhone 18 Pro models.

The bank's Evidence Lab data shows average wait times rose by three days and two days week-over-week for the Pro and Pro Max models, respectively. However, these increases are still lower than last year, with average year-over-year deltas of roughly negative one day for both models.

UBS notes that despite improving demand trends on the margin, 13 analysts have revised their earnings downwards for the upcoming period. In contrast, Evercore ISI raised its price target to $380, citing strong consumer interest in the iPhone 18 Pro and Pro Max models.