Financial services company Morgan Stanley has upped its 12 month stock-price for Apple from $160 to $190, claiming investments in the automotive industry could spike Apple's valuation at over $1 trillion.

It would be the first company to achieve a $1 trillion valuation on Wall Street. Apple is already at an all-time high. It's currently valued at $750 billion or more than Exxon Mobil, Google, Microsoft and Facebook altogether.

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Morgan Stanley is convinced Apple will have a strong presence in the automotive industry within the next few years even if reports say the Apple "iCar" won't be launched until 2020.

It follows several reports claiming Apple is ramping up automotive expert hiring. It's even gone to to Tesla Motors, BMW and Samsung to poach car and battery talent while offering huge salary increases and bonuses for joining.

The car won't only be electric (making it a prime competitor to Tesla Motors) but will also feature self-driving functionality to compete with Google.

Apple is already on a huge surge in value due to the 74 million iPhone sales in Q1 2015. This performance beat Samsung's entire line of products in the quarter. It also allowed Apple to surpass Xiaomi as first place in Chinese smartphone sales.

The Apple Watch is another big question for Cupertino's valuation. The company will hold an event for the smartwatch on March 3 where it will detail any changes and price points for all three of the smartwatch editions. The watch will launch this April.

TagsMorgan Stanley, iCar, Apple car, Wall Street, stock exchange