UBS Apple · AAPL

UBS Reiterates Neutral Rating on Apple, $296 Price Target

Analyst: David Vogt 1 min read Reproduced verbatim
Rating
Neutral
Unchanged
Target
$296
Unchanged
Outcome
Reached
on May 13, 2026
UBS and Apple logos

What the analyst said

UBS analyst David Vogt reiterated a Neutral rating and $296.00 price target on Apple (NASDAQ: AAPL).

“AI related applications including Siri AI not a demand game changer in our view…Apple made a number of software—specifically AI-related—announcements with a privacy overlay as we had expected at its annual developer conference.

While we believe that a number of the features are additive to the user experience and offer further convenience relative to prior versions, we do not expect the announcements to be a material driver of iPhone demand ahead of the expected launch of a foldable device in the fall.

Rather we believe Apple’s AI journey is likely to be iterative over the next couple of years with today’s announcement a solid foundation to build an “edge AI platform”.

However, based on initial functionality, we believe investors will be underwhelmed with the offerings given the consumer market is already highly competitive.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

AAPL trades at $332. The 19 analysts who set a target in the last 3 months range from $250 to $400, with a median of $350. This $296 target is 15% below the median.

Since the note AAPL has moved +10% (from $302). 12-month window: day 147 of 365, closes on June 9, 2027.

Track record

This call✓ Target reached on May 13, 2026, 12 days after the note. Same target as this firm’s May 1, 2026 note, so it is scored there.

Firm track recordUBS: 81% of its 52 targets at least a year old were reached within 12 months (#10 of 26 firms). Accuracy ranking →

UBS on Apple

UBS price targets on Apple

8 calls from March 26, 2026 to July 1, 2026. The target went from $280 to $296 (+6%). The rating stayed Hold.

UBS targetAAPL share price
  1. July 1, 2026Kept the $296 targetHold$296
  2. June 26, 2026Kept the $296 targetHold$296
  3. June 25, 2026Kept the $296 targetHold$296
  4. June 9, 2026 This noteKept the $296 targetHold$296
  5. May 1, 2026Target raised from $287 (+3%)Hold$296
  6. April 28, 2026Target raised from $280 (+2%)Hold$287
  7. April 7, 2026Kept the $280 targetHold$280
  8. March 26, 2026Earliest call shownHold$280
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Other analysts on Apple

DA DavidsonHold Raised price target +9%, kept rating Nov 3 $295from $270 ArgusBuy Raised price target +7%, kept rating Nov 3 $400from $375 Yorkville IvesBuy Kept rating and price target Nov 3 $400maintained JP MorganBuy Cut price target −1%, kept rating Nov 3 $355from $360 BarclaysSell Raised price target +7%, kept rating Nov 3 $261from $245
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.