Rosenblatt Raises Apple Price Target to $268
Rosenblatt analyst Barton Crockett raised the price target on Apple (NASDAQ: AAPL) to $268.00 (from $267.00) while maintaining a Neutral rating.
“Apple dove into low-end competition, with a Neo targeting the Chromebook market, and a new low-end iPhone 17e.
Memory/storage cost pressures for Apple’s premium priced products are a modest percent of build of materials (BOM,) suggesting potential for other offsets that makes us more confident that Apple can perform well versus its guide for a March quarter 100 to 200 bps Y/Y rise in gross margin to 48%-49%, prompting a northward estimate tweak and a $1 bump to our PT to $268.
Our rating remains NEUTRAL, as this company executes admirably, but trades at a meaningful premium.”
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