Crispr Therapeutics shares tumble after significant earnings miss
UBS reiterated its Neutral rating and $210.00 price target on Apple (NASDAQ:AAPL) stock Monday. The technology giant, with its $2.94 trillion market cap and "GOOD" financial health score according to InvestingPro, continues to be a prominent player in the Technology Hardware industry. The firm’s analysis shows global iPhone sell-through data for April and May tracking up mid-teens year-over-year, indicating continued strength from April into May. This growth complements Apple’s broader revenue performance, which reached $400.37 billion in the last twelve months.
The research firm attributes the recent iPhone demand surge to "broad-based market fears of future iPhone price hikes arising from US tariffs on China and South East Asia exports." Through the end of May, UBS estimates iPhone sell-through is tracking approximately 4 million units above both the same period last year and their June-quarter estimate.
Despite this short-term boost, UBS cautions that the estimated sell-through of roughly 34 million units across two seasonally slow months is unsustainable in a quarter that typically averages around 45 million units. The firm does not expect the market to project this "likely abnormal demand" pattern forward. InvestingPro analysis shows Apple currently trading at elevated multiples, with a P/E ratio of 30.55 and an EV/EBITDA of 20.88, suggesting careful valuation consideration is warranted.
UBS cited "relatively uneventful offerings introduced at WWDC" and soft purchase intent revealed in their recent UBS Evidence Lab survey as additional factors tempering long-term outlook. These indicators suggest the current demand pattern may not persist.
The firm expects "near-term demand trends to moderate demand in the coming months and quarters," signaling that the current sales surge may be temporary rather than indicative of a sustained growth trajectory for Apple’s iPhone business. For deeper insights into Apple’s valuation and growth prospects, InvestingPro subscribers can access comprehensive analysis including 12 additional ProTips and detailed financial metrics in our Pro Research Report.
In other recent news, Apple’s iPhone sales surged by 15% globally in April and May, achieving the top position in the Chinese market, according to Counterpoint Research. This growth was driven by expansions in China and the United States, with additional gains in Japan, India, and the Middle East. Meanwhile, Apple has set a spring 2026 target for a delayed Siri AI upgrade, aiming to enhance the voice assistant’s capabilities as part of its artificial intelligence strategy. The upgrade will allow Siri to access users’ personal data and on-screen activities to improve response accuracy. In another development, 908 Devices appointed co-founder Christopher D. Brown to its Board of Directors. Brown, who has held key roles at 908 Devices and Repligen (NASDAQ:RGEN) Corporation, brings extensive expertise in advanced analytical technologies to the company. Additionally, Foxconn (SS:601138) has shifted its iPhone export patterns from India, with nearly all devices now headed to the United States, reflecting Apple’s strategy to avoid high U.S. tariffs on China.
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