The gains have spooked at least one analyst. Richard Gardner of Citigroup downgraded Apple to a hold rating Thursday morning, saying the benefits of new products such as the much-anticipated iPhone are already reflected in the share price, according to [url=http://www.marketwatch.com/news/story/apple-shares-hit-new-high/story.aspx?guid=%7B1C4757BA%2D51D8%2D40C4%2DA0D7%2D7FDED02F7338%7D&siteid=yhoof]MarketWatch[/url].
"While we continue to like Apple's long-term growth opportunity, we see little more than market returns in the shares from current levels," he wrote in a note to clients.
Most of Wall Street remains bullish on the shares, however. Chris Whitmore of Deutsche Bank lifted his price target to $140 from $130.
"We believe Apple's share price will be supported by continued strong customer uptake of iPods, iPhones and new Mac product roll-outs," he told MarketWatch.
