Rosenblatt Hikes Apple Price Target Ahead of iPhone Launch
Rosenblatt Securities raised its price target for Apple stock to $303 ahead of the company's iPhone launch event, but analysts still see a downside due to the CEO transition. The new price target implies a 4.4% decline from current levels.
The firm expects Apple to manage supply-chain pressures through higher prices and a greater mix of premium products. However, this could also put pressure on consumer demand.
With John Ternus taking over as CEO, investors will be watching for signs that the new leadership can accelerate product innovation while maintaining the company's strong financial performance.