Apple's share price target was raised 30 per cent by the analysts at Sanford C Bernstein this morning.

Analysts at the firm predict Apple may exceed even these aggressive targets on strength of strong iPhone sales. They raised their target price to $175 from $135 and issued a 'market perform' rating on the stock.

"If Apple is able to secure what we believe are significant, near-100 per cent margin payments from non US wireless carriers that approach those we estimate from AT&T, and drive material unit volume of phones, there could be material upside to our earnings estimates and to the stock price,' analyst Toni Sacconaghi wrote, as reported by Bloomberg News.

Institutional Investor magazine ranks Sacconaghi as the leading computer industry analyst.