UBS forecasts Apple’s September-quarter revenue slightly below consensus at $112.8 billion, with diluted EPS of $1.97 versus $1.99 expected. iPhone revenue growth is slowing to about 14% year-over-year, down from over 20% in prior quarters, due to weaker demand despite higher prices. Services revenue growth is also slowing, with key segments like the App Store showing low single-digit gains. Gross margin is expected to decline to 47.5% from 50.1%, pressured by rising component costs, especially memory chips. UBS maintains a Neutral rating and $296 price target, questioning the sustainability of Apple’s recent stock gains ahead of earnings on November 2.
Apple shares are trading at USD 339.33 on Pluang as of Oct 21, 2026 02:11 WIB, down 1.05% in the last day. The stock is near its 52-week high of USD 343.46, reflecting some resilience despite UBS's cautious outlook. Pluang investors hold Apple for an average of 144 days, indicating moderate-term interest in the stock.
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