Apple Stock Valuation Hinges on September 9 Event

Wall Street is revisiting its expectations for Apple's (AAPL) future performance as the company prepares for its September 9 iPhone event. Analyst Rosenblatt Securities has increased its price target to $303 from $300, citing higher pricing and a greater mix of premium products to manage supply-chain pressure.

However, this modest increase is still below Apple's current market price, which ranges between $316-$320. The gap raises questions about whether the company can justify its premium valuation and produce enough new growth to keep investors satisfied.

Rosenblatt maintains a Neutral rating despite the higher target, suggesting that Apple shares are not inexpensive at current levels. Other analysts, such as BofA Securities, remain more bullish, with a $380 target implying nearly 20% upside from current levels.