Application online timing? When is too late?

Hi guys,

Let's talk about the timing in online application. Can you share your case on a time when you apply quite late and still get to the next step?

I am currently looking at an industrial placement internship post at a BB(UBS) 's official website. It's post 2 months ago, and there are 2 month before the application deadline. I submitted but got reject, do you think it's more of a timing thing or it's about my profile is not competitive enough?

Thanks! good luck for yall in 2019 : )