Apple: UBS, concerned about iPhone sales, remains 'neutral

(CercleFinance.com) - On Monday, UBS renewed its 'neutral' opinion on Apple, with a price target of 236 euros, expressing concern about recent iPhone sales.


Based on available data, the research firm reports that the Apple-based company sold 12.9 million units of its smartphone in August, down 2.5% year-on-year.

More worryingly, the iPhone's market share fell to 13.6% last month, the lowest since August 2021 and the Covid epidemic.

While acknowledging that sales of the device should pick up with the recent launch of the iPhone 16, UBS cites demand for the latest addition to its range as more moderate than expected.

In view of these factors, the analyst fears that the Californian group will fail to meet consensus forecasts for iPhone sales in the quarter ending at the end of September.

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