Apple stock (NASDAQ: AAPL), which was trading in the $250 zone in Q1 of 2026, climbed above the $300 level in May. Since then, the tech titan briefly dipped only once below $300 but has managed to quickly rebound in value. AAPL is comfortably trading above the $300 range from May 20 and has remained there for nearly two weeks.
However, David Vogt, the stock analyst at UBS, warned that Apple stock could slide below the $300 level again. Therefore, traders who take an entry position at its current price can expect a dip in the charts. However, accumulating AAPL when it falls below the $300 level could be beneficial, as the profit margin would widen after it reclaims the level.
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Apple Stock Downside Price Target From UBS
The UBS analyst gave a ‘hold’ rating for Apple stock in a note to clients on June 3. He also predicted that AAPL is set to slip in the charts and fall to the $296 level. That’s a downward trend of nearly 5% from its current price of $310. Therefore, an investment of $1,000 now could turn into $950 if the price prediction turns out to be accurate.
The strategist explained in the note that he has a cautious stance, citing that Apple’s premium valuation relative to the broader S&P 500 index is difficult to justify given its current margin and growth profile. He also pointed out the lower iPhone shipments in China after the robust initial selling periods. All of these are set to dampen Apple’s stock prospects, he said.
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Traders who are planning to invest can wait for further dips and take an entry position below the $300 level. Tech stocks are primed for correction after they surged in Q2 of 2026. Apple stock is estimated to see a slight dip, but could rebound in value as it did in May last month. AAPL must now be on traders’ must-watch list.