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

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,147.03 15.06 0.09%
Nasdaq 4,557.92 5.16 0.11%
S&P 500 1,999.94 0.96 0.05%
Treasuries 2.58 -0.01 -0.50%
Data as of 11:44am ET
Company Price Change % Change
Apple Inc 101.09 0.23 0.23%
Bank of America Corp... 16.73 0.02 0.12%
Alcoa Inc 16.30 0.14 0.90%
Yahoo! Inc 42.58 -0.13 -0.32%
Microsoft Corp 46.50 -0.25 -0.55%
Data as of 11:27am ET

Sections

Attorney General Eric Holder wants to amend U.S. law to raise the amount that whistleblowers receive for sharing information with law enforcement. It's currently capped at $1.6 million. More

When will the Fed raise rates? It all depends on whether the phrase 'considerable time' is or isn't in the Fed's statement. More

Frederick Hutson launched Pigeon.ly in 2012 to help inmates communicate with their friends and family. He's on target for $1 million in sales this year. More

Are you living for your job? Working around the clock? These questions will help you determine whether you've ventured into workaholic territory. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.