UBS Warns of Pricing Pressure as Foldable iPhone Duo Hits Market

Apple's latest product event has sparked a mixed reaction from analysts, particularly regarding the pricing of its new foldable iPhone Duo. The device starts at $1,999, while Apple also raised prices for its Pro and Pro Max models by $100.

UBS, an investment bank, maintained a neutral rating on Apple's stock (AAPL) after the event, keeping a price target of $296. This target is below Apple's current share price of $319.60.

While some analysts expect the higher pricing to put pressure on customer demand, UBS noted that it may not fully compensate for rising memory expenses. The bank also stated that if prices had increased further, it could have led to even more pressure on demand.

Other analysts have offered different views on Apple's stock. Bank of America reduced its target to $370 while retaining a Buy rating, while Melius Research and Evercore ISI kept Buy-equivalent views. Jefferies maintained an Underperform rating with a price target of $263.66.