UBS Reaffirms Its 'Neutral' Rating with a $280 Price Target on Apple (AAPL)

Apple Inc. (NASDAQ:AAPL) is one of the best stocks to buy and hold for 20 years.

On January 21, 2026, UBS maintained its ‘Neutral’ rating with a $280 price target on Apple Inc. (NASDAQ:AAPL) ahead of earnings. While reflecting on the strong early demand for the iPhone 17 series, the investment firm reported that its supply-chain checks point to a modest pull-forward in the December quarter amid rising memory costs, prompting higher production. Therefore, UBS lifted iPhone unit sales by approximately 12%-13% to 84.5-85.0 million units. Furthermore, the firm believes that cost inflation, particularly in memory, has likely resulted in slightly stronger late-quarter sell-through than previously expected. This creates short-term upside while also pointing to long-term margin sensitivities, according to UBS.

Meanwhile, on the same day, Apple Inc. (NASDAQ:AAPL) also drew Goldman Sachs analyst Michael Ng’s attention, who reiterated a ‘Buy’ rating with a $320 price target. The analyst argues that the stock’s recent 4% pullback stems from short-term concerns about costs and Services segment growth, rather than any deterioration in long-term fundamentals. The investment bank projects 9% iPhone revenue growth in both fiscal 2026 and 2027, alongside 13% year-over-year growth in fiscal Q1 2026. The firm’s projections reflect pricing mix along with a 26% expected surge in China shipments. For the longer term, Goldman sees the iPhone Fold launch and software-driven upgrade cycles as key growth catalysts.

Apple Inc. (NASDAQ:AAPL) focuses on designing and selling consumer electronics and software-driven services worldwide.

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