UBS Reiterates Neutral on Apple (AAPL) as iPhone Wait Times Remain Flat

Apple Inc. (NASDAQ:AAPL) is one of the AI Stocks Investors Are Watching. On November 12, UBS reiterated the stock as “Neutral” and stated that its checks show Apple’s iPhone wait times are “flat.”

“UBS Evidence Lab data that tracks iPhone availability across 30 geographies suggests more of the same: wait times are flat to down WoW on average across key markets.”

The firm’s Evidence Lab tracked down iPhone availability across 30 geographies. Its checks have revealed that wait times are flat to down week-over-week on average across key markets.

“Average wait times for the Base and Pro Max are ~12 days (+12 days YoY / -1 day WoW) and ~8 days (+7 days YoY / -6 days WoW), respectively.”

Meanwhile, the Pro and Air models show essentially no wait times.

“Average wait times are essentially nonexistent for the Pro (flat YoY / -4 days WoW) and Air (flat YoY and WoW), consistent with reports that the next version of the Air will be delayed following weak sales.”

Particularly in the United States, wait times for the base iPhone model increased by an estimated 6 days week-over-week to about 15 days. This is 13 days higher than the same period last year.

“However, we note that wait times for the Base model in the US increased by ~6 days WoW to ~15 days (+13 days YoY), which we think reflects that it is resonating with consumers, as well as the supply constraints mentioned in the prior earnings call. Excluding this outlier, we expect wait times to continue to trend lower for the rest of the models and markets absent any material promotional activity or stimulus.”

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

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