One other Apple bull is boosting its outlook.Cowen analysts bumped their price goal to $530 on Tuesday, a road excessive, only a day after Morgan Stanley elevated its personal. Apple shares hit a file above $515 on Monday, additional stretching the corporate above its $2 trillion market cap. Ari Wald, head of technical evaluation at Oppenheimer, can also be bullish on Apple. He stated the corporate charges properly basically and will proceed to learn from robust know-how momentum. Its almost 70% rally yr so far, nevertheless, has pushed it into overbought territory, stated Wald.”For another, we might be steering our shoppers into Apple’s provide chain, semiconductors. Most notably one title that stands out is Skyworks Options. It will get about 40% to 50% of its income from Apple,” Wald advised CNBC’s “Buying and selling Nation” on Monday.Its current strikes have additionally set Skyworks up for a technical push larger, stated Wald.”Current energy broke Skyworks out of a five-year vary, courting again to its peak from 2015. So we predict that marks a resumption of Skyworks’ long-term uptrend and that breakout level is now help and measures in direction of $180,” he stated.Shares in Skyworks have been buying and selling Tuesday at near $142. The stock is up 17% this yr.Mark Tepper, president of Strategic Wealth Companions, is extra cautious than Wald on Apple after its outperformance.”We personal the stock, however we have now been trimming because it goes larger. The stock has tripled over the past 18 months and it is not as a result of they’re rising earnings, there’s been zero earnings progress over that timeframe. It is all off a number of growth,” Tepper stated throughout the identical “Buying and selling Nation” phase.The stock traded at lower than 16 instances ahead earnings in March. It now trades at greater than 32 instances. Tepper stated it appears to be valued as a software program firm regardless that the vast majority of its income is generated from lower-margin {hardware} gross sales.”Now if you happen to’re searching for an Apple various, we like a number of the provide chain names as properly. Qualcomm is one which we like. It is buying and selling at a 25% low cost to the remainder of the semiconductors, and it’s a pure play on 5G. They’re in Apple telephones, they’re in Samsung, they’re in Huawei, so Qualcomm is the perfect pure play on the 5G rollout that is going to be arising very shortly,” stated Tepper.Qualcomm shares are up 30% this yr. The stock was down lower than 1% in afternoon buying and selling Tuesday.Disclosure: Strategic Wealth Companions holds AAPL and QCOM.Disclaimer