As the Apple iPhone continues to sell three weeks after being introduced to the world, Apple Inc. (NASDAQ: AAPL) has had its shares rise over 14% from June 29 to now. Are AAPL shares going higher? According to many analysts --they are. I've seen targets for a 52-week high now from $175 to over $200. As of this afternoon, AAPL shares sit at $142.63 and they are going up still.

Things seem to be falling all Apple's way, despite certain snafus with the iPhone launch that landed in AT&T Inc.'s(NYSE: T) lap. Most of the initial launch issues (customer activations and such) have been ironed out and hundreds of thousands of customers are now enjoying their new iPhones. If this wireless gadget from Apple becomes even remotely as iconic as the iPod, Apple shares will mount a trek into outer space from the existing stratosphere where they currently reside.

Should you pick up AAPL shares now and get in on the possible ride? That's up to you and your wallet or portfolio. With rumors of a cheaper and smaller iPhone launch before this year's holiday season, Apple may have no place to go but up. $200 a share? That's a stretch, but if any company is qualified to get there right now, it's Apple.