UBS cut its price target on Apple to 125, down from a previous target of 195. The reason for the lowered price target and lowered earnings estimates is obviously the current economic downturn we’re all in. In spite of this, Apple seems well positioned to weather the storm a lot better than most other consumer electronic companies. We’ll have a better idea as to how Apple is doing financially when it releases its earnings on October 21st. But considering that Apple may well have sold over 10 million iPhones, and with rumors of impressive new Apple announcements just around the corner, Apple might plow through analyst expectations in the next few weeks. Macsimumnews has the scoop here.