Shares of Apple (AAPL) - Get Report  rise slightly on Monday after J.P. Morgan lifted its one-year price target on the company's shares for the second time in as many weeks on expectations that Apple's new Apple TV+ service and other components of its mobile offerings will rake in big advertising revenue bucks.

In an update to clients, J.P. Morgan analyst Samik Chatterjee lifted his 12-month price target to $296 from $290 and left his buy rating on the stock in place on continued optimism over the company's potential to bring in money from advertising on its recently launched Apple TV+. 

That followed Chatterjee's upgrade to $290 from $280 just two weeks ago, which he implemented due to what his team sees as strong advertising revenue potential related to the company's mobile offerings.

"While investors are trying to identify the next big frontier for services, we believe hidden in plain sight and underappreciated by most is the advertising opportunity within Apple's fingertips, given the secular migration of advertising dollars to mobile platforms, the large installed base of close to (1 billion) iPhone users, and importantly, Apple's successful exploration of advertising to date," Chatterjee wrote in his Nov. 15 research note.

Indeed, Chatterjee sees not just potential subscription revenue growth but also advertising revenue growth helping boost the tech giant's bottom line.

A number of other research firms have also recently weighed in on Apple, including Goldman Sachs, which in early November set a one-year price target of $192 and gave the stock a "neutral" rating.

Shares of Apple were trading at $267.41 in trading on Monday, up 0.06%. The stock has soared more than 60% year to date through November.

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