Shares of Apple Inc. (AAPL) are likely to hit another all-time high after, among other things, a Credit Suisse price target upgrade. Meanwhile, Jefferies is the latest shop to come in with healthy expectations for Apple's holidays, boosting its price target to match a sell-side high. In addition, there are media reports of surging China handset sales data and the prospect of stronger-than-expected first quarter earnings on Jan. 28.
Does it get any better? 
Let's check out the charts Friday morning.
In the daily bar chart of AAPL, below, we can see a stock that can climb to higher highs nearly every day without much in the way of corrections or pullbacks. It seems like buyers of AAPL are willing to jump in at any price.
I don't consider it a wildly bearish statement that buyers have forgotten about risk; rather this just the way AAPL trades right now. Prices are naturally above the rising 50-day moving average line and above the rising 200-day line. Some chart watchers might consider AAPL extended above the 200-day line.
The daily On-Balance-Volume (OBV) line has risen nicely from early June to a new high to confirm the price gains. The 12-day price momentum study, a leading indicator, shows higher highs from November to January and that is not a bearish divergence when compared to the price action making higher highs over the same time period. Price momentum is not slowing on this rally. At least not yet.
In the weekly bar chart of AAPL, below, we can see a positive picture with no advance warning signs. Prices are above the rising 40-week moving average line.
The weekly OBV line has been going up the past three years and stands at a new high with price. The 12-week moving average line has made higher highs so there are no bearish divergences on this time frame.
In this first Point and Figure chart of AAPL, below, we used daily price data and can see a nearby price target of $314.
In this second Point and Figure chart of AAPL, below, we used weekly close-only data to construct the chart. Here the software is projecting a potential $330 price target. This target is less than some fundamental price targets this year.
Bottom-line strategy: I don't know if every sell-side analyst is bullish on AAPL but it probably is not a problem. What will likely be a problem, however, is if we see analysts leapfrogging each other with higher and higher price targets -- that is when you need to think about heading for the exits. Meanwhile, you should continue to stay long and trade AAPL from the long side. $330 is our next price target for now.
(Apple is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL? Learn more now.)
