Two pros explain why Apple stock has more upside potential

According to two market analysts, Apple Inc. (NASDAQ: AAPL) could witness an encouraging second half of 2021 have as shares of the tech giant continues to soar. For the third time this week, Apple shares hit record highs on Wednesday, following reports that the consumer tech company had instructed suppliers to increase iPhone production. Shares closed at $149.15 per share on Wednesday.

Apple's valuation is unlikely to expand, but there is much upside

Citigroup senior tech analyst Jim Suva thinks Apple's valuation is generally fair and unlikely to expand. Suva told CNBC:

On the other hand, Loup Ventures co-founder and managing partner Gene Munster expects significant upside to be seen. He explained that the belief among investors is that the March quarter was the best quarter for the company in almost a decade since he started following Apple.  Munster said that the best days for the company are coming considering what Apple is doing in healthcare, transportation, 5G augmented reality, and other services. 

Munster: AAPL is the best FAANG stock

According to Munster, all the company is doing could play well and boost earnings, with Wall Street projecting $5.50 in 2022. When put together, the number could be closer to $6, and he thinks AAPL is a $200 stock, which is an upside of 40%. Munster said: