Stocks
UBS Sees iPhone 18 Demand Improving Outside of China
Apple's iPhone 18 demand is showing signs of improvement at the margin, but China remains a weak spot in the company's supply-chain and wait-time data, according to UBS.
The firm's Evidence Lab found that average wait times for the iPhone 18 Pro and Pro Max increased by roughly three and two days week over week, respectively. This suggests demand outside of China is now running close to flat compared with last year.
However, China still accounts for most of the weakness in the data. UBS maintained a 'Neutral' rating and $296 price target on Apple stock, implying around 13% downside potential against the current market value of $339.75.