Apple shares closed at an all-time high Thursday after Wedbush analysts raised their price target for the stock, telling clients they expect the iPhone maker could be headed for a "golden era of growth" driven by demand for artificial intelligence.

With Apple stock in record-high territory, a longtime Apple bull on Thursday raised his price target to the highest level on Wall Street.

Apple Inc. ($AAPL) has consistently proven to be a resilient investment for shareholders. Despite the subdued response to this year's artificial intelligence (AI)-enabled iPhones, the stock is poised to close the year as a market outperformer.