**Apple’s Q3 2026 Earnings Update: UBS Increases Price Target Following Strong iPhone Sales**
With merely two days left before Apple’s Q3 2026 earnings release, UBS has elevated its price target for the firm’s shares, reflecting sustained strong interest in the iPhone. The revised price target has moved from $280 to $287, which, while modest in comparison to the current share price of $270.40, adds to a rising positive outlook surrounding the company in advance of its earnings report.
In recent weeks, analysts have been inclined to raise their target prices for Apple shares, primarily due to the company’s strong position in managing the ongoing memory supply challenges. Notably, BNP Paribas has recently increased its target from $260 to $300, following JP Morgan’s previous adjustments from $305 to $325.
UBS analyst David Vogt highlighted that Apple’s supply chain resilience and capability to secure memory resources are fostering market share growth and increased demand for the iPhone 17 lineup. He anticipates that iPhone revenue might grow by about 20% year-over-year, projecting Apple’s revenue in the June quarter to be around $102 billion, which indicates an 8.5% increase compared to the previous year.
In spite of these encouraging signs, UBS holds a neutral view on Apple’s stock. The firm has voiced concerns regarding long-term risks, including potential product delays, a shortage of innovation, and a possible decrease in iPhone unit shipments. Furthermore, macroeconomic elements could negatively influence product demand, especially in China.
For additional insights, readers can refer to the complete report on CNBC’s website.