Apple Inc. (NASDAQ:AAPL) shares are trading higher after UBS maintained a Buy rating on the stock and raised its price target from $155 to $166.
UBS analyst David Vogt attributed the price target raise to better iPhone units and Macs. The analyst noted ‘Coupled with aggressive promotions from US carriers, we believe the backdrop supports solid iPhone unit demand in the Apple’s largest market.’
Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide.
Apple’s stock was trading about 3% higher at $146.77 per share on Tuesday. The stock has a 52-week high of $150 and a 52-week low of $89.14.