UBS has given Apple Inc. a "neutral" rating and set a price target of USD 236, stating that there is limited potential for iPhone growth in the upcoming quarters.
The firm notes that iPhone demand is experiencing only modest growth, with data showing reduced waiting times for the iPhone 16 Pro in the USA and China compared to the previous year.
UBS predicts a year-on-year increase in iPhone unit sales of 4% and 1% for the September and December quarters, respectively. However, the analysts highlight that the potential for a significant rise in sales is constrained, suggesting that investors should focus on long-term developments rather than expecting immediate performance boosts.