Apple Could Get 20% More Valuable By The End of Next Year

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That's according to JPMorgan analyst Samik Chatterjee, who initiated coverage of the tech giant with an "overweight" rating and $272 price target for December 2019. JP Morgan is predicting that Apple shares will keep rising even after its big gains this year. Apple's transformation from a hardware company to a services company faster than investors had expected is driving financial and valuation upside. 

The company's services business includes App Store, Apple Music and Apple Pay. Apple also plans to expand its media offering with video and print media content.
According to the JPMorgan, the company could potentially see more acquisition activity in near future.