UBS upgrades Apple to a buy — here are the 3 reasons why

LONDON — UBS on Wednesday upgraded Apple stock to a “buy” rating and raised its price target from $115 per share to $142 per share.

Apple shares closed Tuesday’s session at $119.90, down 9.64% year-to-date, with Big Tech having taken the brunt of the market jitters on rising bond yields.

But in a new research note, UBS gave three fundamental reasons why investors should look to snap up the Cupertino-based tech giant’s stock, as the Swiss lender upgraded it from “neutral” to “buy.”