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UBS Worries That iPhone Demand May Weaken; Apple's Stock Price Rose Approximately 1% on Friday
Businessinsider
1h ago
Ai Focus
Apple's stock price rose by about 1% on Friday afternoon to around $345. Analyst David Vogt maintained an 'hold' rating on Apple, with a target price of $296, stating that the data indicates a week-on-week decrease in the waiting time for iPhone, Pro, and Pro Max, which may mean that consumers are purchasing a smaller quantity of iPhone.
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Apple Inc.'s stock price ( AAPL ) rose by about 1% on Friday afternoon to around $345. Nevertheless, UBS ( UBS ) four-star analyst David Vogt still maintains a 'hold' rating on the stock and has set a target price of $296, which implies about 14% room for decline.

Vogt pointed out that the data in this row shows that the average waiting time for iPhone Pro has been reduced by about 1 day compared to last week; the waiting time for iPhone Pro Max has been reduced by about 5 days compared to last week. Given Apple's recent price increases and stable supply, this analyst believes that the quantity of iPhone purchased by customers may be decreasing.

As a background, Apple released iPhone, Pro, and Pro Max on September 9th, and reservations began on September 12th.

David Vogt who is it?

According to the data from TipRanks, Vogt ranks 1,780th among over 12,000 Wall Street analysts, which is within the top 15%. The chart shows that his rating success rate is 61%, and the average return he brings to investors is 10.90%.

UBS expresses concerns regarding the requirements of iPhone

In the research report, Vogt indicates that his conclusions are based on data from UBS Evidence Lab. This data tracks how long customers in over 30 markets need to wait to purchase iPhone.

This analyst pointed out that the data shows that the average waiting time for iPhone and Pro is about 4 days shorter than it was a year ago. However, the waiting time for iPhone and Pro Max remains relatively the same.

"We noticed that in the US market, the iPhone Pro year-over-year waiting times are longer, but this is significantly offset by the performance of Europe and Japan; whereas in the US market, the iPhone Pro Max waiting times are longer, which are essentially offset by the performance of the Chinese market," writes Vogt.

The report with the Vogt label was released weeks after the views expressed by Bank of America ( BAC ). Bank of America stated that, despite the higher prices, the iPhone 18 Pro waiting times were still close to the levels of the same period last year.

Is it a good time to buy Apple stock now?

In addition, the average target price for AAPL is $334.91, which indicates a potential downside risk of about 2% in the future.

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