UBS Reaffirms Price Target on Apple (AAPL) After Mixed iPhone 17 Preorder Data

Apple Inc. (NASDAQ:AAPL) ranks among the hot stocks to invest in right now. On September 17, UBS reaffirmed its $220 price target and Neutral rating on Apple Inc. (NASDAQ:AAPL) after analyzing early iPhone 17 preorder data. According to analyst David Vogt, UBS Evidence Lab data monitoring iPhone availability across 30 regions shows a mixed response to the iPhone 17 lineup since preorders started on September 12.

UBS pointed out a number of significant changes from last year’s introduction, including the fact that the base iPhone model remains priced at $799 even though it now comes with 256GB of storage rather than 128GB.

Additionally, according to the firm, Apple Inc. (NASDAQ:AAPL) only has seven iPhone models available on its website right now, compared to nine models during the launch period last year. UBS believes this could have an effect on consumer purchasing decisions.

Apple Inc. (NASDAQ:AAPL) is a global tech company that is known for its core offerings, the iPhone, Mac, and Apple Watch, as well as its expansive service portfolio, which includes iCloud and Apple Music.

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Disclosure: None. This article is originally published at Insider Monkey.