In a note to clients — as reported by “Fast Money” ( — Jeffries analyst Peter Misek says he’s raised his Apple stock price target by US$100 to $699 per share.

“We’ve got a great product cycle. We have iPhones selling better than expected,” he says. “We think the Street numbers are too low, so we’re sending a message that we think Street’s going to go higher and we think the stock’s going to go higher as a result.”

“Fast Money” also notes ( that Morgan Stanley analyst Katy Huberty thinks stock price could go to $960 or higher, giving the tech giant a market value approaching $1 trillion. Her price target — which would value Apple at about $900 billion (it currently is about $540 billion) — is based on more businesses adapting iPads, a new iPhone running on a faster wireless network and emerging market growth.