Shares of Apple Inc. closed Wednesday above $100 for the first time on optimism the iPhone will help the maker of iPod players and Macintosh computers grab a bigger share of the consumer-electronics market.

Apple's shares rose 92 cents to $100.39 at the close of Nasdaq Stock Market trading. They have gained 18 percent this year.

Chief Executive Officer Steve Jobs is looking to the June release of the iPhone, which combines an iPod and mobile phone and offers Web and e-mail access, to expand into wireless devices.

Apple forecasts it will sell 10 million iPhones in 2008, capturing a 1 percent share of the total market.

"Investors have come to the realization that Apple is much, much more than an iPod company," said Jonathan Hoopes, an analyst at ThinkEquity Partners in New York.

He rates the shares as "buy" and doesn't own any.

Enthusiasm for the iPhone has been fueled by Apple's success with its Mac personal computers and iPod music and video players.

The Cupertino-based company said last week that net income soared 88 percent in the quarter ended March 31 on continued demand for Mac notebooks and low-cost iPods.

Sales rose 21 percent to $5.26 billion, topping analysts' estimates.

Apple has sold more than 100 million iPods since Jobs introduced the gadget in October 2001, making it the best-selling player in the United States.

Jobs has been able to persuade users to buy multiple players by introducing more than 10 smaller, higher-capacity, less-costly models, including the $79 Shuffle, its lowest-priced iPod.

The iPhone will first be sold in the United States by Apple and partner AT&T Inc., the largest U.S. mobile-phone service.

Apple plans to sell two models of the device for $499 and $599, and offer the iPhone in Europe late this year and Asia next year.

Analysts also said they are optimistic about Apple TV, a $299 device released last month that beams digital videos from computers to televisions.

Apple TV and the iTunes stores, which sells digital music and video, have "the potential to emerge as a new means for purchasing, storing and accessing video in the same way iPod/iTunes and MP3 players have become a new way to purchase, store and listen to music," Kunal Madhukar, an analyst at Bear Stearns & Co. Inc. in New York, said in a note Monday.

Of 28 analysts who follow Apple, 24 recommend investors buy the stock and four say hold. None suggest selling, according to Bloomberg data.