UBS Reiterates Neutral on Apple (AAPL) as Interest in Apple Intelligence and Foldables Rises

Apple Inc. (NASDAQ:AAPL) is one of the Trending AI Stocks on Wall Street.  On December 8, UBS analyst David Vogt reiterated a “Neutral” rating on the stock with a $280.00 price target.

The rating affirmation follows firm research that has indicated rising interest in Apple Intelligence and foldables. However, the firm believes that these improving interest trends are not yet compelling enough.

“Considering investor expectations for a long-awaited Siri overhaul, as well as a foldable iPhone next year, we highlight interest in upgrading for new Apple Intelligence features and an Apple foldable.”

According to the firm, an estimated 29% of total respondents expressed interest in upgrading to new Apple Intelligence features. On the contrary, 28% respondents noted that the new AI features will have no impact on their purchasing plans.

The responses from the survey are roughly split, but it has become evident that the gap between positive and negative views has been narrowing. Meanwhile, interest for an Apple foldable has also been increasing.

“While the responses were roughly split, we note that the delta narrowed relative to the prior survey. Further, total ‘net interest’ in an Apple foldable was ~40% (+300 bps HoH), driven by a ~1,400 bps increase in ‘net interest’ in the US (~39%).”

Apple is a technology company known for its consumer electronics, software, and services.

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Disclosure: None.