UBS Reiterates Neutral on Apple (AAPL) as Tariff Talk Sparks iPhone Buying Surge

We recently published a list of 12 AI Stocks on Latest News and Ratings. In this article, we are going to take a look at where Apple Inc. (NASDAQ:AAPL) stands against other AI stocks on latest news and ratings.

One of the most notable analyst calls on Tuesday, May 28, was for Apple Inc. (NASDAQ:AAPL). Apple is a technology company known for its consumer electronics, particularly the iPhones and MacBooks. UBS analyst David Vogt reiterated a Neutral rating on the stock with a $210.00 price target.

The firm’s checks show an “uptick” in foot traffic following the tariff announcements. While Apple’s management mentioned in their earnings calls that they didn’t observe any significant pre-buying activity in March, Vogt highlighted how Counterpoint’s sell-through data indicated otherwise. The data revealed that there was significant pre-buying activity of iPhones in anticipation of tariffs.

The sell-through data further reported that iPhone unit sales in China were nearly 4% lower year-over-year in April. On the other hand, sales in the United States saw an 18% increase, whereas Europe experienced a 5% rise, and the rest of the world, except for China, relished a roughly 25% surge in sales.

“Following the announcements of US imposed tariffs across China and Southeast Asia in early April, anecdotal iPhone checks indicated an uptick in foot traffic in Apple stores and other smartphone point of sale outlets like Best Buy and telecom operator stores.”

Overall, AAPL ranks 4th on our list of AI stocks on latest news and ratings. While we acknowledge the potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AAPL and that has 100x upside potential, check out our report about this cheapest AI stock.

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