From Financial Modeling Prep: 2025-06-16 15:05:00

UBS maintains a Neutral rating on Apple Inc. with a $210 price target, citing strong iPhone sales data for the June quarter but warning that the boost may be short-lived. Global iPhone sell-through for April and May is up mid-teens percentage year-over-year, driven by consumer concerns over potential price hikes due to tariffs.

The increase in iPhone sell-through is around 4 million units higher than last year, but UBS notes that these gains occurred during slower sales months. With the June quarter typically averaging 45 million iPhone units, the recent strength may not be sustainable. UBS also highlights underwhelming WWDC announcements and subdued purchase intent as signs of cooling demand.

UBS expects demand for iPhones to cool off in the coming quarters, as the market may not project early-quarter momentum without stronger product catalysts. The firm emphasizes the need for stronger demand drivers to sustain growth beyond the current boost.



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