"A headline breaks and everybody tries to get in front of everyone else, " said Brian Lazorishak, portfolio manager at Chase Investment Counsel.

WSJ: Blue Chips Gain 163 Points

"It seems like we're due for a consolidation at some point, but what we saw was awfully mild, " said Brian Lazorishak, portfolio manager and quantitative analyst at Chase Investment Counsel.

WSJ: Stocks Notch Another Record

Brian Lazorishak says he isn't sure, but a 52% run-up in the stock over the past year has left him with more exposure than he wants as a portfolio manager at Chase Investment Counsel in Charlottesville, Va.

WSJ: Upside: Is It Time to Double Down on Apple��or Walk Away?