Apple (NASDAQ: AAPL) shares hit record highs on almost every day last week, and closed Friday at a record $127.08. Tuesday's $122.02 close brought Apple's market capitalization to nearly $711 billion, making it the first U.S. company to surpass a $700 billion market cap. That's over twice Microsoft's $350 billion valuation and not quite twice that of Google's $365 billion.
Analysts and investors alike were bullish, and continued the trend of raising Apple shares' target price. Analyst Keith Bachman of BMO Capital Markets raised his target price from $130 to $135, speculating that there are still a lot of iPhone owners who have not yet, but will upgrade to the iPhone 6, and that the Apple Watch will sell 19 million units in 2015. Canaccord Genuity raised its