The Highest Price $730 Target for Apple Stock

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Apple is still the top-rated stock on FBN's Focus List, as he expects 2012 and 2013 to feature several new products, including an LTE-enabled iPhone, as well as Apple's oft-rumored television set.

Seyrafi raised his iPad estimates from 56.2 million to 61.2 million, including 11 million units in Apple's second quarter, which ends in March. He raised his third-quarter estimate from 13 million units to 15 million units in light of the announcement.

He notes that the iPad met many of consumers' expectations with its enhancements, including Retina Display, 4G Long Term Evolution (LTE) capability, a new quad-core processor, code-named A5X, and a 5 megapixel back-facing camera that has 1080p video-recording capability. Seyrafi did make note of the fact that Apple did not include capability for Siri in the new tablet, although it does have voice recognition software.