UBS has expressed caution regarding Apple's iPhone sales in the third and fourth quarters due to limited growth potential.
According to UBS's analysis of iPhone availability in 30 regions, there is modest demand compared to the previous year. The current wait times for the iPhone 16 Pro in the U.S. and China are 18 and 17 days, respectively, which is a decrease from 20 and 21 days last year.
UBS projects a 4% year-over-year increase in iPhone units for the September quarter and a 1% increase for the December quarter. The firm maintains a Neutral rating on Apple shares and has set a price target of $236, reflecting its cautious stance on the company's short-term performance in the smartphone market.