As Wall Street digests another blowout quarter for Apple Inc., analysts are growing more optimistic that the company will hit a trillion-dollar market cap within the year.

There weren’t any major rating upgrades to Apple’s stock as of Wednesday morning despite Apple surpassing earnings, revenue and iPhone expectations Tuesday night. A vast majority of sell-side analysts already rate Apple AAPL, -3.17% at overweight.

But a number of brokerages did raise their price targets, most notably Cantor Fitzgerald, which raised its target to $195 from $180, implying a market cap of $1.1 trillion within the next 12 months.

“We believe Apple is in the midst of a transformational, super cycle,” said Cantor analyst Brian White, who reiterated a buy rating on the stock.

Recap: Apple widely surpasses quarterly earnings target

Not only is the momentum of the iPhone 6 cycle “notably stronger” compared with those in the past, according to White, but also he predicts Apple Watch will prove to be “the best-selling new product in Apple’s history.” On top of that, reports of a top-secret Apple Car in development in Cupertino signal Apple is “innovating like never before,” he said.

Other price-target increases came from Canaccord Genuity, to $155 from $150; SIG Susquehanna, to $155 from $150; Macquarie Research, to $155 from $145; BTIG Research, to $160 from $150; and RBC, to $150 from $142. A $155 12-month target implies a market cap of nearly $903 billion.

Most of the bulls were happy with the quarter and played down fears iPhone sales would stabilize in the second half of 2015.

However, a few analysts swam against the tide.

Raymond James merely backed its market perform rating, J.P. Morgan reiterated overweight but backed only a December price target of $145, Deutsche Bank maintained a hold rating and $125 price target, while Wells Fargo stayed firm at market weight and said Apple’s outlook and capital allocation plans were “just OK.”

“While iPhone sales were impressive, we believe that strong near-term growth is largely factored into AAPL’s current valuation,” Deutsche Bank analyst Sherri Scribner said in a note to clients.

Shares of Apple fell 0.7% to $131.74 in recent trade. They are up more than 55% over the past 12 months, compared with a 10% increase for the broader Dow Jones Industrial Average.

Other negatives cited by Scribner were the fifth straight quarterly decline in iPad sales, and a quarter-over-quarter decrease of $29 in iPhone average selling prices.

There was also a bit of concern over Apple’s comments regarding supply constraints for Apple Watch, which Scribner said could lead to “a more limited revenue growth driver” this year than previously expected. To that tune, BTIG Research analyst Walt Piecyk lowered his Apple Watch unit estimate to 27.5 million from 30 million, though he raised his average-selling-price estimate to $450 from $400.

“We have had positive experiences with the Apple Watch in the past few days, but the limited availability of the product makes it too early to tell whether the watch will achieve wide-scale adoption,” Piecyk said.

While CEO Tim Cook said demand for Apple Watch is exceeding available supply, the company declined to provide a breakdown of watch sales, and focused instead on the number of apps available on the wearable at launch: 3,500 versus the 1,000 that launched with the iPad.

Apple said margins could be affected by investments in the watch, but that Apple Watch could hit Apple retail stores within the quarter and could be ready for expansion abroad by the end of June.