UBS top analyst Steven Milunovich has pinned Apple success to its sales in China. Optimistic about iPhone 8 sales, Milunovich raised Apple's price target to $170 and encouraged investors to buy thanks to the iPhone's estimated 15 percent unit growth in China.

A Monday report from UBS models a 30 percent recovery in Chinese iPhone unit sales during fiscal year 2018 following two years of 20 percent unit declines in the Asian country.