UBS Holds Neutral on Apple After $1,999 Foldable iPhone Launch

UBS maintained a neutral rating on Apple with a $296 price target after the company launched its $1,999 foldable iPhone Duo, a target below Apple's current share price of $319.60. Apple shares rose about 1.5% Thursday following the product event. The investment bank noted Apple also raised Pro and Pro Max prices by $100, but said the higher pricing may not fully compensate for rising memory expenses. UBS added that a larger price increase could have pressured customer demand more significantly. Apple's updated lineup now includes Pro, Pro Max and Duo models, with additional iPhone 18 versions expected early next year. Other analysts hold mixed views, with Bank of America cutting its target to $370 while retaining a Buy, and Jefferies maintaining an Underperform rating at $263.66.