Why Apple Could Gain Another 12%

New iPhone X and ongoing servicing of current Apple users should drive the stock price higher.
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Apple (AAPL) - Get Report could go to $197 a share from the current $175 or so because the new iPhone X "is probably going to be a catalyst for much higher stock prices," market watcher Stephen "Sarge" Guilfoyle says.

"I think [there] is probably pent-up demand for the X," Guilfoyle told Jim Cramer during TheStreet's November Trading Strategies roundtable of top columnists and guests.

Guilfoyle, a former New York Stock Exchange floor trader who writes our daily Market Recon column, added that "the [real] reason to stay long Apple is the servicing of their ecosystem." The expert, who holds AAPL in his personal portfolio, said tons of consumers are so tied into Apple's ecosystem of products that they're "stuck" with continuing to use the company's wares.

"I'm stuck with Apple," Guilfoyle said. "I don't necessarily like Apple products, [but] I'm not going to bother switching."

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This article was written by a staff member of TheStreet.