UBS Evidence Lab Sees Apple (AAPL) Wait Times Continuing to Ease

UBS analyst David Vogt reiterated a Buy rating and $175.00 price target on Apple (NASDAQ: AAPL) noting that wait times in the US and China for high-end models are continuing to ease.

The analyst stated "Utilizing UBS Evidence Lab (>Access Dataset) data that tracks product availability across 30 countries, we compare iPhone 13 models to last year's iPhone 12 to gauge customer demand. Compared to last year, wait time or days until available remain elevated for the highest priced iPhone 13 Pro Max in all of the key regions including the US, China, Japan as well as key markets in Europe; however, we are beginning to see modest improvement in availability on a week-to-week basis. We believe the decline in wait times coincides with improvements in the the supply chain as some of the earlier reported headwinds appear to have been resolved".

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 $164.29 yesterday.

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