Park Ha Biological Technology stock rises on upcoming ticker symbol change
Investing.com - UBS maintained its Neutral rating and $220.00 price target on Apple (NASDAQ:AAPL) in a research note released Wednesday. The stock, currently trading at $260.42, is considered overvalued according to InvestingPro Fair Value metrics, despite its impressive 26.62% gain over the past six months.
The investment bank’s analysis shows iPhone 17 wait times continue to trend flat to lower week-over-week across 30 tracked geographies. Year-over-year wait times remain relatively flat on average for most models, with the exception of the Base model. This demand pattern is crucial for Apple, which generated $408.62 billion in revenue over the last twelve months, according to InvestingPro data.
The newly approved iPhone 17 Air in China shows wait times of approximately 11 days, which is about 4 days longer than what the iPhone 16 Plus experienced at a similar post-launch point last year. UBS noted that the Air’s introduction in China did not impact demand for the Base model.
The Base model’s continued demand strength surprised analysts, who attribute it to the unchanged $799 starting price combined with improved specifications including 256GB starting storage, an enhanced camera, and larger display.
Wait times for the higher-priced Pro and Pro Max models, which make up the majority of iPhone mix, remain consistent with last year across markets, according to UBS Evidence Lab data tracking iPhone availability. For deeper insights into Apple’s performance metrics and future outlook, InvestingPro subscribers can access a comprehensive Pro Research Report, one of 1,400+ available for top US stocks.
In other recent news, Apple is facing a new antitrust complaint in the European Union, submitted by civil rights groups Article 19 and Germany’s Society for Civil Rights. The complaint alleges that Apple’s App Store terms and device policies violate the EU’s Digital Markets Act. Meanwhile, KeyBanc Capital Markets has maintained its Sector Weight rating on Apple, citing healthy demand for the iPhone 17, particularly the higher-priced Pro and Pro Max models, which may increase average selling prices. The firm also noted a 17% month-over-month increase in September hardware spending, although it remains 15% lower than the previous year.
In production news, Apple has reportedly reduced orders for the iPhone Air while boosting manufacturing for other iPhone 17 models. Additionally, Apple’s foldable iPad project is experiencing delays, potentially postponing its release to 2029 or later due to engineering challenges. These developments reflect ongoing adjustments and challenges within Apple’s product lineup and regulatory environment.
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