With just two days to go until Apple’s Q3 2026 report, UBS just raised its price target on the company’s stock, based once again on strong iPhone demand. Here are the details.
Over the past few weeks, multiple analyst notes have raised their target prices for Apple stock, citing the company’s overall better position in dealing with the ongoing memory supply crunch.
Now, as reported by CNBC, UBS reaffirmed this position, raising its Apple price target from $280 to $287. While the increase is modest relative to both the current share price of $270.40 and its prior guidance, it adds to the growing positive sentiment ahead of earnings.
Earlier this month, BNP Paribas raised Apple’s stock target from $260 to $300, which in turn came after JP Morgan bumped it twice from $305 to $325.
And while UBS’s stock target is more conservative (more on that later), it leans on the same argument that Apple’s supply chain strength and ability to secure memory are translating into share gains and stronger iPhone demand.
According to CBNC, UBS analyst David Vogt said that “supply chain strength and sustained demand/share gains for the iPhone 17 series should lift iPhone rev up ~20% YoY.”
Vogt reportedly increased UBS’s forecast for Apple’s revenue in the June quarter “by roughly 4% to $102 billion, suggesting 8.5% year-over-year growth,” adding that “solid demand in the US and China [will lead] to ~6% revenue growth or $47.4B,” versus a previous estimate of $43.5B.
Even so, Apple’s stock was kept at a neutral rating, as UBS sees longer-term risks including “product delays or less innovative offerings, particularly a decline in iPhone unit shipments” and “macro weakness dampening product demand, especially in China”.
To read CNBC’s full report, follow this link.
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