UBS analyst David Vogt maintained a Neutral rating on Apple Inc. with a $220.00 price target, noting that iPhone demand has peaked. Wait times for the iPhone 17 Base model remain elevated year over year, but appear to be flattish to down for the second consecutive week across geographies.

In China, wait times for the iPhone 17 Base model decreased by an estimated 5 days week-over-week, indicating easing demand caused by Air model unavailability. However, demand for the Air model seems weak despite its new design, while Pro and Pro Max models show mostly unchanged wait times.

UBS expects this year’s iPhone lineup to follow last year’s pattern of flattening or declining wait times across key markets unless Apple introduces new promotions to boost demand. Apple is a technology company known for its consumer electronics, software, and services, with some AI stocks offering greater upside potential and less downside risk.

Investors interested in AI stocks can explore opportunities beyond Apple. Consider exploring the potential of other AI stocks that could benefit from current market trends. Check out our free report on the best short-term AI stock for more information.

Read more at Yahoo Finance: Apple (AAPL) Price Target Stays at $220 as UBS Sees Flattening iPhone Wait Times