Apple Price Target Raised to $287 on iPhone Share Gains, UBS Forecasts Growth
UBS raised its Apple price target to $287 from $280, citing iPhone market share gains as rising memory prices squeeze Android rivals. UBS forecasts $109 billion March-quarter revenue, lifts June-quarter outlook by 4% to $102 billion, and boosts EPS estimates to above $1.94 for March and $1.70 for June.
1. UBS Raises Price Target
UBS raised its Apple price target to $287 from $280 per share while maintaining a Neutral rating. Analysts cited improved supply chain checks and stronger iPhone demand metrics as justification for the upgrade.
2. March and June Revenue Forecasts
For the March quarter, UBS projects $109 billion in revenue versus a $109.3 billion consensus, expecting a slight beat. The June-quarter revenue outlook was increased by 4% to $102 billion, implying 8.5% year-over-year growth.
3. iPhone Market Share Gains
Rising memory costs are pressuring Android competitors, allowing Apple to capture additional iPhone market share in China and Europe. UBS now forecasts 50.3 million iPhone units in the June quarter, up from 46.5 million previously.
4. Margin and EPS Outlook
UBS projects a consolidated gross margin of 48.5% for the March quarter and guides June margins to 47–48%. The firm expects March EPS slightly above $1.94 and raised its June estimate by about 7% to $1.70, driven by optimized product mix.