Apple: UBS maintains 'buy', but cuts target
(CercleFinance.com) - UBS maintains its "buy" rating on Apple, but has cut its target price on the share from 235 dollars to 225 dollars.
In a note to clients, the broker says that Apple is not immune to a slowing smartphone market, due to further lengthening of upgrade cycles, especially in the US and UK.
UBS also thinks that the Huawei situation could indirectly impact Apple.
However, as iPhone expectations are very low for this fall, UBS believes investors may look through near-term softness ahead of the 5G upgrade next year.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the broker says that Apple is not immune to a slowing smartphone market, due to further lengthening of upgrade cycles, especially in the US and UK.
UBS also thinks that the Huawei situation could indirectly impact Apple.
However, as iPhone expectations are very low for this fall, UBS believes investors may look through near-term softness ahead of the 5G upgrade next year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.