Analyst believe Apple shares could rise over 20 percent during the next year or so, thanks to expected sales of a new iPhone, which will likely be released before the end of 2014, according to an article in the March 24 edition of Barron's.
Apple could release its next smartphone as early as this summer, though the company will most likely wait until sometime this fall.
Two iPhones were released last September, the iPhone 5S and iPhone 5C, and the iPhone 5 was released in September 2012.
Apple's next device is expected to come with a bigger display screen, ranging anywhere between 4.7-to 5.6- inches.
A device with a larger screen could give Apple users a good reason to upgrade from their previous devices, or even win back customers who switched to devices released by competitors like Samsung or Nokia.
Other features that have been discussed by many media outlets includes an increase in RAM and an improved 3.2 MP front camera have also been mentioned in recent months by a number of media outlets.
The device will likely be called the iPhone 6, though a name, nor specs, have been confirmed by the company yet.
The iPhone 6 will likely be sold for over $199 depending on what Apple is able to equip the phone with, according to a report from Taiwan's Economic Daily News.
The article also mentioned that Apple shares currently trade at a discount, something the company hopes will change with the introduction of a new phone.
Make sure to check back once more information regarding the next iPhone is released officially.
See Now: OnePlus 6: How Different Will It Be From OnePlus 5?