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.
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.
Investors need someone they can bring home to mother instead of bad boys (or girls) that may make their heart beat faster. Boring beats bold in this market. Here are 10 dependable stocks we love. Southwest (ticker symbol: LUV) is one. More
India's finance minister isn't worried about jobs being lost in the country's manufacturing sector despite warnings that industrial robots will dramatically reduce the need for factory workers in coming decades. More
Women coders do better than men in a gender-blind study that examines GitHub requests. More
Why is Donald Trump missing from Bleacher Creatures' new line of presidential candidates plush dolls? More