Updated from 11:56 a.m. EST to provide comments from J.P. Morgan in the fifth paragraph and updated shares price.
NEW YORK ( TheStreet) - Apple (AAPL) shares hit $500 for the first time on Monday, as the iPhone maker pushes towards a $500 billion market cap, but should traders and investors take pause after Apple's recent run-up?
It depends on your time-frame, according to a variety of traders and analysts.
Every stock has ebbs and flows, and Apple is no different, having soared 23.4% year-to-date. This far outpaces the broader NASDAQ, which has returned 12%. Competitors such as Research In Motion (RIMM) and Google (GOOG) have returned 4.9%, and -5.4%, respectively.
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