Apple (NASDAQ:AAPL) could be gearing up for a major product release/refresh next year. As a result, a prominent analyst recently issued an ambitious price objective for AAPL stock.

In a time when technology components are in short supply, it’s challenging for Apple to meet its customers’ fast-changing demands. Regardless of supply-chain bottlenecks, shoppers always seem to want the latest and greatest products.

At the same time, security is a major priority in the 2020s. Fortunately, Apple’s competitive moat remains wide as the company continues to offer consumer electronics with robust features but also a strong focus on security.

What’s Happening With AAPL Stock?

After a bruising first half of the year, AAPL stock might just be on the comeback trail. $180 has been a stubborn resistance level throughout 2022 so far. (Keep that number in mind, as it will come up again soon).

The silver lining here is that Apple’s trailing 12-month price-to-earnings ratio is 23.24x, which is quite reasonable. Furthermore, while some other technology companies don’t offer a dividend at all, Apple rewards its loyal shareholders with a 0.64% forward annual dividend yield.

In other words, AAPL stock is hard to resist in the $140s, or even in the $150s. And don’t forget what made Apple such a popular company in the first place: its products. The company’s bread and butter is the iPhone, and one Wall Street analyst is preparing for a big reveal next year.

The iPhone 14 is due to be released in September. However, Loop Capital Markets analyst John Donovan isn’t expecting anything special with that release, except for a possible addition of emergency satellite communications connectivity. Primarily, Donovan is looking forward to next year’s iPhone 15 release.

“It is becoming clearer to us that the focus is already shifting to a redesigned iPhone 15,” Donovan explained. Moreover, all indicators “point to Apple targeting the iPhone 15 as the savior so to speak.” With that in mind, the analyst has assigned a $180 price target and a “buy” rating to AAPL stock.

Security in Focus

Along with potential iPhone upgrades, there has also been talk of a revamping of Apple’s smartwatch. Reportedly, the new smartwatch design could feature a large display, a bigger battery and “rugged metal casing.” Additionally, Apple has recently announced an updated 13-inch MacBook Pro, powered by the new M2 chip.

Just as importantly, however, Apple is clearly taking security measures seriously. As evidence of this, Apple is combating spyware attacks with a new “Lockdown Mode.”

This protective feature is coming this fall and should be available for iOS 16, iPadOS 16 and macOS Ventura. Lockdown Mode is designed to continuously detect and fend off sophisticated cyberattacks.

In some instances, Lockdown Mode will limit certain functionalities on Apple devices. This is intended to reduce the “attack surface” that could be exploited by hackers. Apple also assured that it will “continue to strengthen Lockdown Mode and add new protections to it over time.”

What You Can Do Now

Time and again, Apple is solidifying its competitive moat though top-of-the-line products and services. These are not only rich in powerful features, but provide security against cyber-threats.

Meanwhile, AAPL stock is trading at a reasonable valuation multiple and has the potential to revisit $180. Therefore, now is a good time to consider starting or adding to your Apple share position.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.