Apple Developing 'mega-ecosystem' As Target Raised To $150

Apple Inc.'s price target was raised to $150 at UBS and to $135 at BMO Capital Markets on Friday, as analysts continue to grow more bullish on the iPhone maker's product line. On Thursday, Apple's stock closed at a record split-adjusted high of $126.46, valuing the company at more than $736 billion, the highest valuation of any U.S. company in history. UBS analyst Steven Milunovich, who rates Apple a buy, said Apple is creating a "mega-ecosystem" that is quickly turning the company into a platform, rather than just a device, company. "Apple the platform company may take it to $1 trillion," he said. At $150, UBS is one of the most bullish brokerages on Apple's stock, behind just Cantor Fitzgerald, which has a $160 target on Apple. Meanwhile, BMO analyst Keith Bachman, who has an outperform rating on the stock, said he thinks Apple is adding "far more users than are leaving the brand" and that its fiscal 2015 iPhone unit forecast may be conservative. Shares of Apple edged 0.4% higher to $126.98 in premarket trade. To get to a $1 trillion market valuation, shares of Apple will have to reach $172.

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