UBS Reaffirms Its ‘Neutral’ Rating with a $280 Price Target on Apple (AAPL)

Core Viewpoint - Apple Inc. (NASDAQ:AAPL) is viewed positively by analysts, with varying price targets reflecting strong demand for the iPhone 17 series and growth potential in the coming years [2][3]. Group 1: Analyst Ratings and Price Targets - UBS maintains a 'Neutral' rating on Apple with a price target of $280, citing strong early demand for the iPhone 17 series and a modest pull-forward in unit sales due to rising memory costs [2]. - Goldman Sachs reiterates a 'Buy' rating with a price target of $320, attributing recent stock pullbacks to short-term concerns rather than long-term fundamentals, projecting 9% iPhone revenue growth for fiscal years 2026 and 2027 [3]. Group 2: Sales Projections and Market Dynamics - UBS has increased its iPhone unit sales forecast by approximately 12%-13% to 84.5-85.0 million units, indicating a positive outlook for the December quarter [2]. - Goldman Sachs anticipates a 26% surge in shipments to China, contributing to a projected 13% year-over-year growth in fiscal Q1 2026 [3]. Group 3: Long-term Growth Catalysts - Goldman Sachs identifies the upcoming iPhone Fold launch and software-driven upgrade cycles as significant growth catalysts for Apple in the long term [3].