Apple shares hit new all-time high

Apple saw its shares continue to rise Friday, hitting both new 52-week and all-time highs in afternoon action, just days before the newest version of the iPhone goes on sale.

Apple stock hit $275 before pulling back slightly to $273.61. For the year, the shares have jumped about 30 percent as the company sees strong demand for its new iPad tablet computer and anticipation for iPhone 4, the latest version of its smart phone.

Analysts surveyed by FactSet Research have target prices on Apple ranging from $280 to $350 a share, with a median price of $325.

Earlier this week, Apple said it had taken more than 600,000 preorders for the iPhone 4, which goes on sale June 24. But the process was marred by glitches, with the exclusive carrier AT&T suspending online preorders on Wednesday after a deluge of customers swamped its website.

To read more, go to MarketWatch.com.