Apple stock could surge 61% to $200, according to this analyst

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Shares of Apple Inc (NASDAQ: AAPL) have already climbed more than 70% so far this year, but will surge to new all-time highs in 2021.

That’s according to Wedbush analyst Daniel Ives. On Tuesday, Ives raised his price target on Apple stock from $150 to $160 — but outlined a bull case for it to climb as high as $200. His new base target represents potential gains for investors of roughly 7% over the stock’s closing price on Tuesday of about $124. It’s the bull case, however, that should have investors excited.

Ives cited several potential catalysts for Apple, most notably continuing strong demand for the iPhone 12 heading…