Apple's recent stock price surge leaves prominent analysts projections in the dust

Recent gains by Apple's stock have pushed its share price past some Wall Street analysts' price targets, leaving their forecasts underwater, while others could be next if the upward trend continues.

Among investment firms tracked by AppleInsider, three institutions are now projecting prices for AAPL stock that is below its current share price. The lowest is Maynard Um of Wells Fargo, who has a "valuation range" of between $515 and $585 for Apple.

That range is actually a slight increase from his previous range of $505 to $575 held a month ago. The price range was updated after Apple reported better-than-expected March quarter results alongside an increased capital reinvestment program and forthcoming 7-for-1 stock split.

Shares of Apple topped $600 on Monday, the first time they have held that level since late 2012.

Also underwater is analyst Ben A. Reitzes with Barclays, whose latest research note on Apple carried a price target of $590. That, too, was increased in late April from a previous price target of $570.

Finally, Charlie Wolf with Needham also has a price target of $590. However, unlike his peers, Wolf elects to update his price target biannually: once in February and again in August.

That means that Wolf's current price target of $590 may remain in place for another three months. His last revision in February reduced his forecasted price for shares of AAPL from $595.

Apple broke past the $600 threshold on Monday just before markets closed. That marked the first time the company's stock has reached that level since November of 2012.

Shares of AAPL remained around the $600 level throughout morning trading on Tuesday, which leaves a few more analysts in danger of seeing their own projections end up underwater quickly if Apple's stock price continues to grow.

Currently cutting it close are Michael Walkley of Canaccord Genuity and Keith Bachman of BMO Capital Markets, both of whom have price targets of $610 for AAPL shares.

On the high end, Brian White of Cantor Fitzgerald has held his projected Apple price of $777 per share for some time. The next highest followed by AppleInsider is Rob Cihra of Evercore Partners, who increased his target to $700 last month.