Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Apple shares top $300

chart_ws_stock_appleinc.top.png By Aaron Smith, staff writer

NEW YORK (CNNMoney.com) -- Apple's stock price crossed the $300 benchmark for the first time on Wednesday, driven by the success of the iPad and other products.

Shares of Apple (AAPL, Fortune 500) jumped to $300.51 per share in the first few minutes after the opening bell. They held those most of those gains throughout the day, closing at $300.14.

This has been a great year for Apple's stock, which has surged about 40% year-to-date. That's compared to the Nasdaq, which has gained about 1.2% so far this year.

"It's the runaway success of the iPad and the continuing success of the iPhone," said Andy Perkins, analyst for Societe Generale in London.

He said that Apple has not had to lower the price of the iPad, despite having produced a large volume of the devices since their debut earlier this year.

"The anticipation was as they shipped more the price would lower, but the margins have kept much higher than people had anticipated," said Perkins.

Apple, based in Cupertino, Calif., plans to announce results for its fiscal fourth quarter on Oct. 18.

The company is expected to announce a 91% gain in quarterly revenue of $18.8 billion and a 123% gain in earnings to $4.05 per share, according to a consensus of analyst opinion from Thomson One Analytics. To top of page

Index Last Change % Change
Dow 17,798.49 -14.90 -0.08%
Nasdaq 5,127.53 11.38 0.22%
S&P 500 2,090.11 1.24 0.06%
Treasuries 2.22 -0.01 -0.31%
Data as of 10:43am ET
Company Price Change % Change
General Electric Co 30.36 0.00 0.00%
Bank of America Corp... 17.48 0.04 0.23%
HP Inc 12.61 -0.03 -0.24%
Pfizer Inc 32.79 -0.08 -0.24%
Walt Disney Co 115.13 -3.54 -2.98%
Data as of Nov 27


Sumner Redstone, the media mogul who controls Viacom and CBS, is at the center of a legal dispute. One side says he is practically unable to make decisions for himself. The other says he is "engaged and attentive." More

Gold futures hit a low of $1,051.60 an ounce, yet another reminder of just how out of favor gold has become since its all-time high of nearly $1,890 in 2011. More

Watsi crowdfunds donations to cover healthcare costs of those in need. And it's seeing a surprising trend: micro-donations via the popular Chinese social networking app, WeChat. More

Hive, a startup funded by the UN, is tasked with getting more Americans engaged with the refugee crisis. More

Facebook just increased the amount of paid time off new dads working at its international offices can take. More