UBS Reiterates Buy Rating on Apple (AAPL)

UBS analyst David Vogt reiterated a Buy rating and $180.00 price target on Apple (NASDAQ: AAPL) as "iPhone Feb sell-through was down just ~3% YoY as US growth turns + as comps ease."

"While the aggregate sell-through data on the margin does not change our March iPhone forecast, we note that the recovery in shipments in December/January and QTD sell-through checks suggests our 52M iPhone unit estimate could be modestly conservative (Consensus 55M). However, given the slight mix to more base/Plus model iPhones (52% QTD vs 45% in Dec-22) from the Pro/Pro Max (44% QTD vs 50% in Dec-22), ASPs in the March quarter could be down compared to the December quarter but up YoY."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $164.96 yesterday.

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