Bank of America Merrill Lynch stated that Apple stock is up 66.5% on the year, and they remain bullish.

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Apple’s post-earnings surge values the company at more than the entire US energy sector, Bank of America Merrill Lynch analysts wrote in a Thursday note.

The tech giant closed Thursday with a $1.17 trillion market cap, maintaining its position as the world’s most valuable public company. The S&P 500 Energy index closed with a $1.13 trillion market cap, dragged lower by ExxonMobil, Chevron, and ConocoPhillips.

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Despite Apple’s strong momentum through 2019, BAML analysts said it still has room to grow. The tech giant is “on course for 82.6% gain” through the end of the year, the team led by chief investment strategist Michael Hartnett wrote.

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Meanwhile, J.P. Morgan raises its Apple price target to $290.

More » Philip Elmer‑DeWitt, 9to5Mac