UBS sees limited opportunity for Apple iPhone upside in Q3, Q4

The firm’s data tracking iPhone availability across 30 geographies continues to suggest modest demand relative to last year, showing that at the high-end, wait times for the 16 Pro in the U.S. and China are 18 and 17 days, respectively, lower than the 20 and 21 day wait last year, UBS tells investors in a research note. For the September and December quarter, UBS forecasts iPhone units up 4% and 1% year over year, respectively, and sees limited opportunity for iPhone upside in either quarter. UBS made no change to its Neutral rating or $236 price target on Apple shares.