There was further evidence of Apple's iPad momentum on Monday when publishing giant Condé Nast announced that it is offering subscriptions for iPad versions of its magazines. Subscriptions are now available for The New Yorker, it said, with other titles such as Vanity Fair, Glamour and GQ following in the coming weeks.

Apple was also cited as the world's most valuable brand in Millward Brown's 2011 BrandZ study on Monday, ending Google's ( GOOG) four-year reign as No.1.

Another question mark hanging over Apple, however, remains the status of Steve Jobs' health. The iconic Apple chief is on his third medical leave from the company. With Chief Operating Officer Tim Cook once again deputizing for his boss, though, Shope says that the consumer tech giant is in safe hands.

"While we have no incremental details on the nature of Mr. Jobs' health at this time , we stress that avoiding Apple's stock on these health-related news events has been a mistake in the past," he explained. "Furthermore, if Tim Cook were to permanently take on the role of CEO, we believe investors would quickly embrace him as Apple's new leader."

Apple shares crept up 53 cents, or 0.15%, to $347.19 on Monday.

--Written by James Rogers in New York.

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