UBS analyst Ben Reitzes has significantly raised his target price on Apple stock: from $95 to $108.

His revaluation follows that of Think Equity analyst Jonathan Hoopes, who raised his value on the stock to $110 this week.

Reitzes expects Apple's profits in its first 2007 financial quarter (the current quarter) to reach 80 cents per share (the consensus estimate presently is 77 cents per share).

Like other analysts, he confirms steady and strong iPod shuffle, nano and Mac sales. He expects 1.8 million Mac and 16.6 million iPod sales in the present quarter.

Reitzes also observes "prospects for higher accessories and software in the long-term". He predicts new Apple products could include mobile phones, the iTV and ultraportable devices.

Apple also saw positive comment from Piper Jaffray analyst Gene Munster, who believes that a foray into the phone market could drive Apple into a whole new market.

Apple shares closed at $91.81 on trading yesterday.