• Rosenblatt expects higher iPhone prices and a greater mix of premium products to help Apple manage supply-chain pressures.

• The firm sees stronger product innovation as key to Apple justifying its premium valuation.

• Apple’s new CEO John Ternus will face an early test on September 9 when Apple holds its major iPhone launch event.

Apple (AAPL) traded largely flat in pre-market trade on Tuesday, despite Rosenblatt raising its price target to $303 from $300 while maintaining a ‘Neutral’ rating on the shares.

The price target hike comes as John Ternus takes over as CEO from Tim Cook, marking the start of a new era for the iPhone maker. Cook will remain with Apple as executive chairman.

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