Apple shares fall after UBS sees weakest 'purchase intent' for iPhone in five years
Apple shares fall after UBS sees weakest 'purchase intent' for iPhone in five years. Shares of Apple fell on Thursday in premarket trading after two analysts cut the tech giant's price target on weak iPhone demand going forward. iPhone buying intent in the U.S. has been dialed back to a five-year low, same as iPhone 6S levels, and interest in China also hit a new low, the UBS survey showed. "Investor expectations for this iPhone cycle are muted. Consensus estimate for iPhones in 2019 is for roughly 2 percent unit decline and about 1 percent revenue growth," UBS analyst Timothy Arcuri wrote in a note.