(This is CNBC Pro’s live coverage of Wednesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest post.) Tech was in focus among analysts early Wednesday. UBS said wait times for the new iPhone models are down year over year. This could point toward a sales slowdown for the tech giant. On a more upbeat note, JPMorgan upgraded software stock Datadog to overweight after a 28.5% rally in the prior session. Shares got a boost on the back of stronger-than-expected earnings for the third quarter. Check out the latest calls and chatter below. 5:37 a.m. ET: JPMorgan upgrades Datadog, says deceleration wave has started to level out JPMorgan upgraded software company Datadog after the company posted stronger-than-expected quarterly results forward guidance. Datadog shares also jumped 28.5% on Tuesday following its earnings announcement. Analyst Mark Murphy raised his rating on shares to overweight from neutral. He also increased his price target to $115 from $90, which suggests 12.5% upside from Tuesday’s close. Datadog shares have produced zero return over the past three years, Murphy noted, with shares down 9% since Oct. 15, 2020. “Investors have recently endured a series of guide-belows / guide-downs, which may prove unnecessary, but underneath the volatile surface, we have consistently voiced our view that Datadog is the ‘Top Dog in Monitoring’ and view it as a cohesive, organic, converged Observability platform that is displacing a patchwork of legacy niche tools,” he added. To be sure, he added that valuation remains somewhat challenging and the stock jumped on Tuesday likely on short-squeeze activity. “Our view is to manage the short- term volatility by advising patient, opportunistic accumulation of shares during pullbacks, keeping an eye on the sub-$100 zone,” Murphy said. — Hakyung Kim 5:37 a.m. ET: iPhone wait times down significantly year over year, UBS says UBS analyst David Vogt said the wait times for the new iPhone models are down “materially” year over year as competition in key markets ramps up. “Despite smartphone demand catalysts drawing closer (retailers stocking up in preparation of Black Friday and the approaching holiday season), the Pro and Pro Max materially lag last year’s models by 25 days and ~2 weeks, respectively,” Vogt wrote. “Notably, the discrepancy, while not as large YoY as the US, continued to widen in China even with the upcoming Singles’ Day on 11/11; we think that the results are starting to reflect the high-end smartphone competitive dynamic from the launch of Huawei’s Mate 60,” he added. UBS has a neutral rating on Apple and a price target of $190 per share, which implies upside of 4.5%. Shares are up nearly 40% year to date. AAPL YTD mountain AAPL in 2023 — Fred Imbert
