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Investing.com - UBS maintained its Neutral rating and $220.00 price target on Apple (NASDAQ:AAPL) following analysis of early iPhone 17 preorder data. The tech giant, currently valued at $3.55 trillion, trades at a P/E ratio of 36.45, suggesting a premium valuation according to InvestingPro data.
UBS Evidence Lab data tracking iPhone availability across 30 geographies indicates mixed demand for the iPhone 17 lineup since preorders began last Friday, according to analyst David Vogt.
The firm believes year-over-year comparisons provide the most meaningful insight into underlying demand patterns, particularly given the introduction of the iPhone Air model in markets outside China.
UBS highlighted several key differences in this year’s launch compared to previous releases, noting that the base iPhone model maintained its $799 price point despite now starting with 256GB of storage instead of 128GB.
The research firm also pointed out that Apple currently offers seven iPhone models on its website, compared to nine models available during last year’s launch period, which could potentially impact consumer purchase behavior.
In other recent news, Apple has been the focus of several analyst updates and company developments. Tigress Financial Partners raised its price target for Apple to $305, maintaining a Strong Buy rating, citing Apple’s significant ecosystem and aggressive AI innovation as key factors for sustained revenue growth. Evercore ISI reiterated an Outperform rating with a $260 price target, highlighting strong carrier promotions for the new iPhone 17 and Air preorders. Bernstein SocGen Group initiated coverage with an Outperform rating and a $290 price target, emphasizing Apple’s strategic position in the evolving AI landscape.
Goldman Sachs also maintained a Buy rating, setting a $266 price target, and noted strong consumer demand for the iPhone 17 series, as indicated by extended lead times. In addition to analyst insights, Klarna has expanded its partnership with Apple Pay, now offering flexible payment options for in-store purchases in the U.S. and UK. These recent developments indicate a period of active engagement and strategic positioning for Apple in both technology innovation and consumer offerings.
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