AAPL

Apple shares (NASDAQ: AAPL) continued to slip last week, closing at $109.73, almost ten dollars below the all time high close of $119 on the day before Thanksgiving. In fact, the share price has dropped about 8% since then. There is no clear reason as to why this is happening, as profits have certainly not slowed, holiday sales are in full swing, and the Apple Watch is just around the corner. Perhaps some investors just want to cash in on some of the big earnings Apple has seen in 2014. Analysts aren't panicking and neither should you.

One of Apple's new products that could be a boon for business is its joint venture with IBM, MobileFirst for iOS. The two companies announced the first generation of MobileFirst apps last Wednesday. The project aims to attract enterprise clients with industry specific applications specifically made for iOS devices. As part of the agreement, IBM will sell both iPhones and iPads to clients.

After opening at $118.81 on Monday last week, Apple (NASDAQ: AAPL) shares fell over the next five days to close Friday at $115.00. This happened despite record Cyber Monday sales. According to analytics firm Custora, Sales were up 15.4% and 21.9% of orders came from mobile devices. Of those, iOS devices accounted for 78% of orders while Android accounted for only 21.6%.

Analysts are still bullish, despite the first slump in months. Several firms increased their target prices over the course of the week. On Tuesday, Canaccord Genuity raised its target price to $135 due to continued high demand for both iPhone 6 models, and a higher average selling price of $700, due to demand for more storage.

For the first time in over a month, Apple (NASDAQ: AAPL) share prices did not close the week at an all time high. Shares traded at a low volume on Friday and closed the day at $118.93. The day before Thanksgiving, however, shares did close at an all time high of $119.00. Monday saw shares close at a record high as well, $118.63. The company also hit a record market cap of $702 billion on Tuesday morning when shares approached $120.

The App Store also recently broke a record. According to Fiksu's App Store Competitive Index, daily downloads jumped from 5.5 million in September to 7.8 million in October, a record high jump of 42%. It also represents a 39% year-over-year increase.

For the fifth consecutive Friday Apple (NASDAQ: AAPL) closed the week at a record high. The share price reached $116.47 by Friday's closing bell. High demand for the iPhone 6 and great expectations for both holiday sales and the Apple Watch launch prompted several investment firms to raise their target prices last week. On Thursday, Morgan Stanley analyst Katie Huberty raised her target price to $126 after Apple surpassed her previous target of $115. She believes people are underestimating potential Apple Watch sales.

Evercore went a bit further and raised its target price from $125 to $136 on Thursday, while Piper Jaffray raised its from $120 to $135. RBC Capital raised its target from $115 to $120 on Monday. All three firms see strong holiday sales and a successful Apple Watch launch in early 2015.

Once again, Apple (NASDAQ: AAPL) stock closed the week at a record high. Share prices closed at $114.18 on Friday, a day after Apple paid a dividend of $0.47 per share on 5.87 billion shares for a record $2.9 billion pay out. This makes Apple the largest dividend payer of the year, just ahead of Exxon Mobil. The company's market cap now stands at its highest ever, $665 billion.

Recent research data show that, in the first thirty days, the iPhone 6 outsold the iPhone 6 Plus by a 3 to 1 margin. According to UBS analyst Steven Milunovich, surveys in the Chinese market show there is much higher demand there for the larger model. Considering this, UBS raised its target price for Apple shares from $115 to $125.