Apple (AAPL) Price Target Stays at $220 as UBS Sees Flattening iPhone Wait Times

Apple Inc. (NASDAQ:AAPL) is one of the AI Stocks In The Spotlight For Investors. On October 8, UBS analyst David Vogt maintained a Neutral rating on the stock with a $220.00 price target. The firm noted that iPhone demand appears to have peaked.

According to the firm’s “Evidence Lab” that tracks iPhone availability across 30 geographies, wait times for the iPhone 17 Base model remain elevated year over year across geographies. However, the wait times appear flattish to down for the second consecutive week.

In particular, wait times in China decreased week-over-week by an estimated 5 days for the Base model and 2 days for the Pro model. This implies that some demand caused due to Air model unavailability has begun to ease.

Moreover, the demand for the Air model seems to be week despite its new design, while wait times for Pro and Pro Max models are mostly unchanged year-over-year and week-over-week outside of China.

Overall, the firm expects this year’s iPhone lineup to imitate last year’s pattern of flattening or declining wait times across key markets at this point in the cycle. This is, unless Apple introduces new promotions to boost demand.

Apple is a technology company known for its consumer electronics, software, and services.

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