In a note to clients, analyst Shaw Wu based the move on the stock's valuation and what he described as "high expectations" that have pushed the stock up more than 40% in the last month. "While we believe Apple will report a strong quarter relative to guidance and published consensus estimates, we are concerned whether it will be good enough and whether investors will be as forgiving with conservative guidance," the analyst wrote.

And I agree with him because now all these analysts joining the BUY bandwagon a little too late along with their high predictions and expectations… sorta like when everyone was guessing how much iPhones were sold last year. Did any of them recommend a buy when AAPL was at 120-130 less than 2 months ago? I'm glad I was one of the few lucky ones that bought AAPL at 120 when everyone seems to be bailing out. I love buying AAPL… when it's the right time.

I would say that I want whatever these guys are smoking, but I don't want to totally lose sight of reality. Sure, I wish it were true, but those figures really seem ridiculous.

Morgan Keegan had better get some new analysts, because they really seem way off the mark. Apple also got downgraded today by AmTech which is rather unpleasant news to my ears.

People keep saying Apple won't disappoint, but I don't have the courage to bet the farm on that nonsense. Last year most analysts said we'd be sitting above $200 this year, and that was the biggest miss ever. Their dreams seem to get the best of them and cause investors to suffer.

“If analysts always upgrade/downgrade what is the point of having price targets? They don’t ever stick to their guns, all they do is go with the flow or the flavor of the month if you will. AAPL’s business is NO DIFFERENT than it was 3 months ago when everyone’s price targets were $10-20 lower. Sign me up for the stock market weatherman job where I can be paid 6 figures to be wrong 75% of the time!”