Unless this was stated in T+Cs upon purchase of the Gift card, then Apple will
more than likely find they've got a lawsuit on their hands.
http://www.apple.com/go/giftcards/ said:Terms and Conditions Apple Gift Cards can be applied only to qualified purchases directly from Apple at a retail Apple Store, from the online Apple Store or by calling 1-800-MY-APPLE in the United States; it may not be redeemed at iTunes Music Store, Apple resellers or Apple Stores outside of the United States. Your Apple gift card is not redeemable for cash and cannot be used to purchase additional Apple Gift Cards or applied as payment to any account. Apple is not responsible for lost or stolen gift cards. To report a lost or stolen gift card, please contact Apple at any retail Apple store location or by telephone at 1-800-MY-APPLE. Replacement cards will be issued after Apple verifies that the lost or stolen card has not been redeemed and you present your original purchase receipt. To learn your card's balance, please call 888-320-3301. For additional gift card information and to see exclusions and limitations, please visit us at www.apple.com/go/giftcards. Not for resale. Void where prohibited or restricted by law. The use of this gift card is governed by the laws of the State of California. Apple reserves the right to change any of these terms and conditions from time to time without notice. TM and © 2005 Apple Computer, Inc. All rights reserved.
Simple enough.