Yahoo:

Apple Inc. shares surpassed $300 amid predictions for a robust holiday quarter, demand for wearables such as AirPods and planned services including streaming TV.

Shares of the iPhone maker rose 2.3% to close at a record $300.35, topping the $300 mark for the first time on a split-adjusted basis. Thursday’s gain was in stark contrast to the dismal start Apple had in 2019 when it cut its sales forecast for the first time in almost two decades exactly a year ago.

Investors are increasingly optimistic about Apple’s user base of nearly 1.5 billion consumers and its ability to leverage auxiliary products like the Apple Watch, AirPods and Apple TV and major hardware upgrade cycles for the iPhone and iPad every few years. The company has also promoted its user base as a key to generating recurring revenue from services like iCloud storage subscriptions, streaming service Apple TV+, Apple Music and AppleCare.

I don’t usually post about the vagaries of Apple’s ups and downs in the stock market but the $300/share threshold is a big deal, especially for those of us who remember when the stock was at $7/share.