Apple price target raised to $268 from $267 at Rosenblatt

Rosenblatt analyst Barton Crockett raised the firm’s price target on Apple (AAPL) to $268 from $267 and keeps a Neutral rating on the shares. The firm says Apple “dove into low-end competition” with the Neo targeting the Chromebook market and a new low-end iPhone 17e. Memory cost pressures for Apple’s premium priced products are a “modest” percent of build of materials, the analyst tells investors in a research note. As such, Rosenblatt is more confident that Apple can perform well versus its margin guidance for the March quarter. Apple “executes admirably, but trades at a meaningful premium,” contends the firm.