Apple Just Jumped To A Record High After This Happened

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Apple shares exploded to an all time record high on Tuesday.

What made the stock hit this high?

A UBS analyst said in a note that Apple may be able to hit $200 a share.

According to Business Insider, analyst Steven Milunovich, Apple’s stock could gain 40% by 2019.

“For Apple to hit $200, iPhone needs to continue to grow beyond F18, new product categories must be established, and buybacks should exceed $50bn per year, boosting the P/E to 17x,” Milunovich wrote.

According to Milunovich, the $200 stock price is possible if everything goes well for Apple in the next few years.

Apple just recently introduced the all RED Special Edition iPhone 7 and 7 Plus, two new iPhone SE models and the new 9.7-inch iPad.

This is the year that the company also releases its highly anticipated iPhone 8, the 10th anniversary phone. It’s expected to come out in September.

Disclaimer: We have no position in Apple Inc. (NASDAQ: AAPL) and have not been compensated for this article.