AAPL shares are on the
rise.
Photo: Buster Hein/Cult of Mac

Share prices of Apple Inc. hit yet another record high during
trading today, setting a new top mark of 143.80 by the time the
market closed.

Apple shares were trading up nearly 3% on Tuesday thanks to an
investor note from UBS analyst Steven Milunovich who predicts
the stock price could shoot up past $200 in the next two to
three years.

In his note,
Milunovich says that getting to the $200 price point would
require continued iPhone growth past the end of 2018. New
product categories would also be needed as well as $50 billion
worth of yearly share buybacks.

The most-likely scenario is that Apple stock hits $175,
according to Milunovich. That’s would still be an impressive
22% growth for the massive company in just a few short years.

Apple’s introduction of the (RED) iPhone 7 and all-new iPad
last week may have also helped shares rise. The stock has been
on an upward swing for most of 2017 after mega-investor Warren
Buffet’s firm, Berkshire Hathaway, revealed that it was taking
a stake in the company. Berkshire Hathaway now owns more than

2% of all outstanding Apple shares.

Rumors of the iPhone 8 have also fueled growth for AAPL. The
10th anniversary edition of the iPhone could come with some
hugely innovative features, including a new all-glass design,
facial scanning, 3D sensors, wireless charging, better cameras
and more. All the new innovations could trigger an avalanche of
upgraders that are likely to make 2017 Apple’s most profitable
year ever.

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