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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV