UBS: iPhone 18 Pro series wait time shows average performance, rates Apple (AAPL.US) as “Neutral”

According to Jinse Finance APP, Counterpoint Research previously released the first sales estimate for the iPhone Duo, stating that this model may sell 6 million units this year. However, UBS indicated that the delivery wait times for the iPhone 18 Pro and Pro Max are “essentially unchanged.” UBS rates Apple (AAPL.US) as Neutral with a target price of $296.

UBS analyst David Vogt wrote in a client report: “UBS Evidence Lab data, which tracks iPhone supply across over 30 countries and regions, shows that wait times week-over-week remained relatively flat. The Pro in the US market is the only obvious difference, with a decrease of about 2 days week-over-week. Thus, the average wait time overall is roughly the same as last year, with only the following notable differences: US Pro (down 2 days year-on-year), China Pro (up 2 days year-on-year), and China Pro Max (down 4 days year-on-year). The year-on-year difference for China’s Pro Max has remained relatively consistent throughout the survey, which may indicate that consumers are waiting for next month’s Duo launch. We believe that existing Pro Max users upgrading their devices—especially in China—are most likely to be the initial market for this new form factor.”

Counterpoint said earlier on Wednesday that panel procurement for the iPhone 18 Pro, Pro Max, and Duo is slightly higher than for the iPhone 17 series, with Pro and Pro Max both up 2% year-on-year. The rest of the increase is attributed to the iPhone Duo—Apple’s first foldable phone. The starting price of the 256 GB version of the iPhone Duo is $1,999, with a maximum available storage of 2 TB.

The iPhone Duo is similar in size to a passport, features two rounded corners, and is the thinnest iPhone ever made by the tech giant. The new phone has aviation-grade titanium borders, an all-new exterior design, and comes equipped with a 7.6-inch Super Retina XDR display. It is 50% larger than the iPhone 18 Pro Max, and 80% larger than the iPhone Pro. Pre-orders for this model begin on October 16, with official sales starting on October 23.