Apple(US:AAPL) Xin Lang Ke Ji·2025-11-26 07:33Core Viewpoint - Apple stock has reached a new high, but analysts express concerns about potential cooling demand for iPhones and slowing growth in the services sector [1][2] Group 1: Analyst Ratings and Market Sentiment - UBS Group AG downgraded Apple stock from "Buy" to "Neutral," marking the lowest percentage of analysts recommending "Buy" at 67% since the end of 2020 [1] - The number of analysts giving optimistic ratings to Apple has decreased to the lowest level in over two years, indicating a shift in market sentiment [1] Group 2: Financial Performance and Projections - Apple's stock price has surged 41% this year, reaching $183.77, but analysts doubt there will be new catalysts to drive further price increases in the near term [1] - UBS analyst David Vogt raised Apple's target price from $180 to $190, which represents only a 3% increase from the recent closing price [2] - The report highlights that Apple's price-to-earnings ratio is approximately 29, the highest in nearly a decade, and about 50% higher than the market average [2] Group 3: Demand Concerns - There are expectations that demand for iPhones and Macs may face pressure in the second half of the year, alongside a slowdown in growth for the services segment, including the App Store and Apple Music [1][2] - The report suggests that from a risk-reward perspective, Apple stock may not be very attractive over the next 6 to 12 months due to anticipated weaknesses in iPhone, PC, and App Store performance [2]