Shares of Apple (AAPL) have had a good week, rising 6 percent and outperforming the broader market.
Much of the advance came on Monday, when the tech giant’s stock reversed a three-week slump following news that a handful of brokers had reiterated their bullish views of the company’s iPhone business.
Another potential boost came midweek, when Apple’s product design chief Jonathan Ive received a knighthood from his native U.K.
When asked which Apple product he is most proud of, Ive suggested new, exciting Apple products are imminent, telling the U.K.'s Telegraph newspaper:
“It’s a really tough one. A lot does seem to come back to the fact that what we’re working on now feels like the most important and the best work we’ve done, and so it would be what we’re working on right now, which of course I can’t tell you about.”
Ive’s comments coincided with another advance in Apple’s stock price Wednesday.
The solid gain in Apple’s share price this week raises the question of whether the world’s most valuable company can return to the strong upward trajectory it saw in the late fall and early this year.
Since hitting a record high of $644 on April 10, Apple’s share price has lost 13 percent of its value and has fallen below the $600 a share level it first rose above on March 15.
Before that milestone, Apple had blown past a few other milestones, rising above $500 for the first time on Feb. 13, and closing above the $400 mark for the first time just before Christmas, on Dec. 23.
On Feb. 29, Apple hit another landmark -- its stock market value hit $500 billion, meaning it was worth more than high-tech rivals Microsoft and Google combined.
Topeka Capital analyst Brian White reckons Apple’s share price could soar to $1,111.
He argues that a number of positives on the horizon could drive Apple’s share price higher, including the launch of the iPhone 5 this fall, an upcoming Apple TV product and a potential relationship with China Mobile, which has a subscriber base two times the population of the U.S.
“There’s so much to look forward to in Apple,” he told CNBC Friday.
In the same interview, Colin Gillis, technology analyst for BCG Financial, said he thinks Apple’s share price will “go lower before it goes higher.”
It’s widely known that Apple will launch an iPhone 5 and a TV-related product, he said.