Apple (NASDAQ:AAPL) stock could climb to $115 per share, according to Evercore Partners analysts. As Apple Insider notes, that one of the highest price targets among Wall Street analysts who cover the company.

Apple Stock

Apple heading for new high?

Analyst Rob Cihra said he thinks shares of Apple will climb to a new high. After the company completed its seven for one stock split, its stock climbed to $100 a share. However, shares have since fallen off to the lower $90s.

Most analysts agree that Apple will release a so-called “iWatch” in addition to the iPhone 6 and new iPads this year. Cihra raised his price target for Apple because he thinks the company will keep targeting consumer markets while also focusing on high-end markets, in which margins are the highest. The analyst also believes Apple will be “creating its own growth” by uniquely innovating and creating new integrated hardware and software compared to “a sea of otherwise commodity devices.”

Apple to sell 58 million iPhones, 5 million iWatches

Of course the December quarter iPhone estimates are rolling in from virtually every firm under the sun. In this case, Cihra thinks Apple will move 58 million units in the quarter. That’s a 14% year over year increase. As other analysts have also suggested, he thinks there is pent-up demand for the iPhone 6 because it is expected to have a bigger display.

For the June quarter, he’s predicting 35 million iPhones. That would be 12% growth compared to the same quarter last year. If Apple can achieve that number, he said the company would beat Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) in terms of growth, as the company saw only 6% growth this year in smartphones.

He projects that Apple will sell 5 million units of the rumored iWatch during the December quarter. He predicts that the device will sell for $249. In the first year of its launch, he sees a conservative estimate of 18 million units for the iWatch.

What Apple’s got going for it

The analyst named a number of iOS 8 features Apple unveiled at its Worldwide Developers’ Conference (WWDC) about a month ago. He said the company will be able to establish itself more fully in a number of growing markets like advertising, location-based services and mobile commerce. Specifically, he named the TouchID fingerprint scanner, HomeKit, HealthKit, iCloud and Handoff.