Apple (NASDAQ: AAPL) stock has been on a tear recently, rising about 50% in the past 12 months on the back of a strong fiscal year 2017. But one analyst believes there's still room to run, and the reasons for his bullishness are sound.
RBC Capital analyst Amit Daryanani reiterated an outperform rating and a $190 price target for Apple stock this week, citing robust demand for the iPhone X in China and improving supply demand balance for the new device. Here's a look at Daryanani's most compelling reasons to be bullish on Apple stock (via Tech Trader Daily) -- and why these reasons make sense.
There is strong demand for the iPhone X in China. Image source: Apple.
Source: Fool.com