Apple (AAPL) Sees Increase in High End iPhone Model Availability, UBS Sees Possible Pressure on ASPs

December 7, 2020 6:49 AM EST
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Price: $137.44 -2.98%

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    44 Buy, 19 Hold, 4 Sell

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UBS analyst Timothy Arcuri reiterated a Neutral rating and $115.00 price target on Apple (NASDAQ: AAPL) noting that UBS Evidence Lab data shows Apple's highest end phone is experiencing a notable increase in availability in both the U.S and other major markets just a couple of weeks post launch. The magnitude appears to be great enough to offset positive momentum in last week's data.

The analyst stated "Following a strong first week, the iPhone 12 Pro Max availability in the U.S decreased to ~16 days from ~27 days in just one week. Initially, the 12 Pro Max mix data was trending similar to the iPhone 12 Pro, but recent UBS Evidence Lab availability data suggests that may no longer be the case. As we have highlighted in recent research, a mix shift toward higher price point devices could lead to modestly better ASP decline than our forecast. However, a decline in Pro Max availability just two weeks post launch could put more pressure on blended ASP".

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 $122.26 yesterday.

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