UBS Sees iPhone 18 Demand Stabilizing Outside China, Maintains Neutral Rating On Apple
Yahoo Finance ·
UBS reported that wait times for the iPhone 18 Pro and Pro Max increased by about three and two days week over week, indicating that demand outside China is running close to flat compared to last year. However, China continues to represent the primary weakness in the supply-chain data. The firm reiterated its Neutral rating and USD 296 price target on Apple stock, which implies an approximate 13 percent downside from its previous close of USD 339.75. Apple unveiled the new Pro models on September 9, with in-store availability beginning on September 18. The lineup is powered by the A20 Pro chip and iOS 27 features. Market analysts remain divided, as Evercore ISI recently raised its price target to USD 380 from USD 365, citing survey data that suggests a stronger-than-expected upgrade cycle and potential pricing gains.
AI 시장 분석
According to UBS analysis, the wait times for the iPhone 18 Pro and Pro Max increased by 3 days and 2 days week-over-week, respectively, showing stable demand outside of China. However, as sluggishness in the Chinese market persists, UBS maintains its price target at $296 and warns of a 13% downside potential. Investors should closely monitor the initial wait time improvements and future sales trends in the Chinese market.
상승 영향
- Smartphones — Initial wait times for the iPhone 18 Pro models increased by 3 days week-over-week, indicating stabilizing demand in global regions outside of China.
하락 영향
- Smartphones — Weak demand in the Chinese market persists, and UBS has warned of a 13% downside potential, raising concerns over short-term earnings slowdown.
DYAX 전담 분석
The increase in initial wait times for the iPhone 18 and the narrowing gap compared to the previous year suggest that demand in global markets outside of China is passing through a bottom. However, the $296 price target suggested by UBS implies a 13% downside from the current stock price, reflecting short-term valuation burdens and the risk of weak sales in China.
In the bullish scenario, a strong upgrade cycle and pricing power could drive earnings, as projected by Evercore. In the bearish scenario, however, depressed demand in China could lead to a blow to total shipments. Supply chain data and sales indicators in the Chinese market over the coming weeks are key watchpoints.
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