Call of the week: Apple notches record high on price target hikes

Yahoo Finance is tracking Apple (AAPL). A string of bullish calls on Wall Street pushed the tech giant to record highs.

First, it was JPMorgan (JPM) on Monday. The firm added Apple to its “focus list” while reiterating an overweight rating on the stock. It also boosted its December 2018 price target on Apple to $165 from $142. Here’s why: JPMorgan thinks users will be anxious to upgrade their devices and get their hands on the 10th anniversary of the iPhone. The firm expects the device to include “3D facial scanning, a glass heavy design, and a structured-light-enabled camera,” among other features.

The call on Apple that generated a lot of talk this week was from UBS (UBS). Analyst Steven Milunovich focused on the long-term potential of the stock, noting that a strong lineup of new products, in addition to new iPhone models and share buybacks of more than $50 billion a year could push shares all the way to $200 within the next couple of years.

It’s that bullish tone that pushed Apple’s stock to an all-time high, shaking off rumors that Samsung’s new phone, the Galaxy S8, could be an Apple killer. Apple’s stock is off to a very strong start this year, climbing more than 24% since January 1.

These two firms are not the only bullish calls on Apple. According to data compiled by Bloomberg, the stock has a total of 39 buys, 10 holds and one sell rating.