UBS: Apple's artificial intelligence has not driven demand for iPhone upgrades

Glonghui, July 2 — UBS stated that Apple Intelligence has not significantly accelerated the pace at which users upgrade their iPhones, and the proportion of users citing AI features as a reason for purchasing a new device has declined. Although purchase intention for iPhones remains robust in the U.S. and European markets, overall market demand is weakening. UBS maintains its previous shipment forecast for iPhones and has kept its Apple target share price unchanged at $296.