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Analysis of Apple's trading history shows it has more 'room to run,' Bank of America says

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Apple CEO Tim Cook arrives for Apples "The Morning Show" global premiere at Lincoln Center- David Geffen Hall on October 28, 2019 in New York.
Angela Weiss | AFP | Getty Images

Bank of America sees Apple shares climbing even further in the next year, as the coming launch of a 5G-enabled iPhone is projected to begin a new period of strong sales for the tech giant.

Shares of Apple are up 63% this year as of Tuesday's close of $257.13.

Bank of America has a buy rating on Apple's stock with a $270 price target.

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