Apple enters the final stretch before its Sept. 9 iPhone event with analysts split over whether new growth can justify a valuation of about 33 times forward earnings. Rosenblatt Securities raised its price target to $303 from $300 while maintaining a Neutral rating, but the new target remains roughly 4%-5% below Apple stock's $316-$320 trading range ahead of Tuesday's U.S. session. The firm expects higher pricing and a larger premium-product mix to help offset supply-chain pressure, including memory and other component costs. BofA Securities reiterated a Buy rating with a $380 target, implying nearly 20% upside, and said new CEO John Ternus can maintain Apple's device dominance as artificial intelligence (AI)-powered features become more important in consumer hardware. Ternus became CEO on Sept. 1, while Tim Cook became executive chairman after 15 years leading Apple. The succession plan was announced in April, and the Sept. 9 event at 10 a.m. Pacific will be Ternus' first major public product launch as CEO. Investors are watching for premium hardware, new form factors and AI features that could drive another upgrade cycle. Apple has also launched a U.S. leasing arrangement with Klarna, and its market capitalization approached $5 trillion in July when it briefly reclaimed the title of the world's most valuable public company during a rally that took it past Nvidia. Rosenblatt's target indicates confidence that Apple can navigate supply constraints, while the gap between its target and the stock price underscores the need for stronger innovation to support the current valuation.