The old Wall Street expression I have heard a million times, mostly in the negative camp is "the company has too many moving parts." Well, the same can be said about Apple Inc. (NASDAQ: AAPL), but only in the positive camp. So as Apple hit a new 52-week and all-time high of $119, what is going on? Let's look briefly at all the "moving parts."

Yesterday, it was announced that Apple stock will be included in the S&P 100 as of the end of trading today. It's definitely a prestigious move for Apple, and one the company did not have to request. S&P determines who the member companies will be. Many structured portfolios must buy the shares to keep up with the 100 stocks in the index. Typically these funds finish this chore within three days of the announcement. Apple traded 52 million shares on Wednesday, twice its normal amount.

Apple announced that its Apple TV will soon have the capability of offering the ever-popular YouTube internet video site on its Apple TV set-top box. This is another confirmation of the growing and consumer-driven philosophy at Apple. If the consumer wants it and the addressable market is large enough, Apple will offer it and probably dominate.

On the technology curve the leading edge is dedicated to the 'early adopters' who buy the latest gadget no matter what the cost is. These people are pretty useful because they act as an early 'heads up' group. They filter through upcoming technology and give us a hint as to what is a useful device or not. The early PDA users suffered through awkward hand-writing technology, and early computer users pushed through text-based prompts for the rest of us. A look at which companies are adopting them though, and the risk therein, can be useful for investing purposes.

Smart Money recently published a list of five gadgets not to buy and gave its reasons for consumers to avoid it. Of the five, Sony Corporation (ADR) (NYSE:SNE) and Microsoft Corporation (NASDAQ:MSFT) got dinged pretty hard by the article due to products of their own and their close relationship to others.