Stocks
Rosenblatt Lifts Apple Stock Target to $303 Amid Supply Chain Optimism
Rosenblatt has increased its price target for Apple stock to $303, citing the successful navigation of supply chain constraints and potential premium pricing. This updated estimate comes ahead of a high-profile iPhone rollout scheduled for September 9.
The firm assumes that price hikes and premium-priced products will mute margin pressures, allowing Apple to maintain profitability despite rising costs. Rosenblatt views this as a healthy premium to low double-digit EPS growth compound annual growth rate.
The current stock price of $316.85 is above the analyst's target, but Rosenblatt believes that successful execution of its strategies will drive the stock towards the new price target. The firm maintains a Neutral rating on Apple shares.