UBS analysts led by David Vogt upgraded their rating on Apple to buy from neutral and lifted the price target to $142 from $115. "While our analysis of iPhone procurement and mix drives our FY22 estimates higher and our 'Core' value to $128 (from $115), our analysis of the auto market and Apple's multi-year investment in the industry (self-driving car licenses and LiDAR patents) suggests to us Apple's auto optionality is worth at least an incremental $14/share," they said.
UBS upgrades Apple to buy on auto market hopes