UBS has given Apple Inc. a "Neutral" rating and set a target price of $236 per share.
According to analyst David Vogt, recent customer figures from Verizon suggest a potential decline in demand for iPhones, which could impact Apple's sales performance. The report, published on October 22, 2024, indicates that Verizon's weak customer metrics are a concerning sign for Apple's flagship product.
Apple relies heavily on iPhone sales, which account for over 52% of its net sales. In addition to iPhones, Apple generates revenue from peripherals, computers, and music support. Geographically, the majority of Apple's sales come from the Americas and Europe.
The average target price from analysts is $240.80, slightly higher than the last closing price of $236.48.