Shares of Apple were up nearly 3% at Monday's close after analysts at Maxim Group reiterated their "buy" rating on the company while raising their price target to $180 from $171. 

Apple shares were up $4.10, or 2.9%, to $146.39. 

The firm believes that the company's iPhone user base is about 650 million strong, and estimates steady state sales of 250 million per year. 

"AAPL's brand remains strong and continues to attract net new users into the iPhone user base, much the same way the Mac's user base has been increasing over the past 14 years that had led to consistent PC market outperformance and premium pricing power that leads to very attractive ROICs," analyst Nehal Chokshi wrote. 

What's Hot On the TheStreet

All eyes on Apple this week: Apple's (AAPL) stock will be on the minds of Wall Street bit more than the norm this week. Shares of the tech giant have fallen 6.9% since the Nasdaq's peak on June 8 amid a broader selloff in tech. Not helping near-term sentiment on the company are two rare analyst downgrades that have questioned how big a seller the iPhone 8 will be.

But investors shouldn't be ready to throw in the towel on Apple by any stretch of the imagination.

"When you have these sellers come in, all you have to do is wait them out -- and one of the things I learned as a hedge fund manager is that patience is a true virtue," TheStreet's founder Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said on Apple's recent slide.

Not so fast, Amazon: Amazon's (AMZN) $13.7 billion bombshell bid for organic grocer Whole Foods (WFM) may not be a done deal, reports TheStreet's Lindsay Rittenhouse.

After the deal was announced on Friday, U.S. Rep. Ro Khanna (D-Calif.) urged the U.S. Department of Justice to conduct a review on the merger's legality and possible harm to the economy.

"I am concerned about what this deal means for suppliers and neighborhood grocery stores," Khanna said in a statement. "The Justice Department and FTC must undertake a review that considers not just the merger's impact on prices, but also the impact on jobs and wages. We need to reorient antitrust policy to factor in the harm that economic concentration causes for American workers."

Meanwhile, Whole Foods shares are trading above Amazon's offer price as to suggest a bidding war may ensue.

More of What's Trending on TheStreet:

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio . Want to be alerted before Cramer buys or sells AAPL? Learn more now.

More from Stocks

GE Is Too Opaque, Too Diversified and Too Poorly Managed: Doug Kass Insider

GE Is Too Opaque, Too Diversified and Too Poorly Managed: Doug Kass Insider

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Google's YouTube in Hot Water Again Over Ads on Inappropriate Content

Google's YouTube in Hot Water Again Over Ads on Inappropriate Content

Should Tesla Nominate a New CEO Not Named Elon Musk?

Should Tesla Nominate a New CEO Not Named Elon Musk?