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Here’s How Apple Shares Could Hit $200

The next iPhone won’t come out til September, but investors are already looking well beyond the new phone.

Apple shares keep going up in anticipation of the iPhone 8 launch later this year, but for the most part Wall Street is already looking at what comes next, after the September iPhone launch.

While UBS analyst Steven Milunovich currently sees limited upside for Apple in the next year -- the stock may rise perhaps 5% from its current $144 -- he sees more potential over the long term. In his view, Apple shares could realistically hit $175 in the next two to three years (a 22% rise). But he says $200 (a 39% jump) is possible if products besides the iPhone really take off.

Here’s what...