Apple's stock reached an all-time high during trading on Friday, reaching $120 per share. The upward movement follows the upbeat first quarter 2015 earnings data released last week.
Apple posted record-breaking earnings and blew past analysts' estimates when it reported $3.06 cents per share on revenue of $74.6 billion. Apple made $18 billion in profit, which is more than any other company has ever reported in a single quarter.
Apple's previous all-time intraday trading high came on November 25, 2014, when shares peaked at $119.75. This has prompted many analyst to increase their price target for Apple shares.
Bernstein analyst, Toni Sacconaghi, increased his price target on Apple stock, from $122 to $135. Cantor Fitzgerald has hiked its price target from $143 to $160, and JPMorgan increased the price target on Apple from $112 to $140. Also, RBC Capital and Goldman Sachs have both given Apple a $130 target price.