Gronghui, April 1 | UBS gave Apple a “neutral” rating, with a target price of 190 US dollars. According to UBS, global sales of iPhones totaled 17.4 million units in February, down 4% from 18.1 million units in February 2023. Most of the decline was concentrated in the US, India, and China. The “low carrier upgrade rate” combined with the success of the Samsung S24 series led to a 9% drop in iPhone sales in the US. Meanwhile, Chinese smartphone brands, including Huawei, Xiaomi, Vivo, and Oppo, continued to gain market share, leading to a 16% year-on-year decline in iPhones in China. iPhone sales in India also fell 13% year over year. UBS analyst David Vogt and others said, “Given the weakness of iPhones in the US and China markets, global iPhone sales are unlikely to increase without significant growth in the Indian market.” However, iPhone sales in Europe increased 24% year over year, achieving the fourth consecutive quarter of growth. UBS believes that in the quarter ending March 31, Apple will sell about 51 million iPhones, down from 56 million last year.