UPDATE 1-Apple stock breaks $300 for first time

* Momentum seen ahead of earnings

* Apple to hold Mac event Oct. 20

SAN FRANCISCO, Oct 13 (BestGrowthStock) – Apple Inc (Read more about Apple stock future.)’s (AAPL.O: )
shares cruised past $300 for the first time on Wednesday, as
investors anticipated another strong earnings report from the
iPhone maker next week.

Apple’s stock rose as high as $301.96, another all-time
record, in morning trading on the Nasdaq.

The company on Wednesday also announced an Oct. 20 media
event for its Mac line of personal computers. Apple promised a
sneak peek at the next major version of the Mac operating
system.

Analysts have been raising earnings estimates and price
targets on the company ahead of its quarterly report due on
Monday. The median price target on Apple is now $350.

Apple is expected to show robust growth in iPhones and
strong momentum in iPad sales, which should help its quarterly
revenue easily top $18 billion for the first time.

Apple’s shares, which have climbed more than 20 percent
since the beginning of September, were up 1.1 percent at
$301.74.
(Reporting by Gabriel Madway, editing by Maureen Bavdek)

UPDATE 1-Apple stock breaks $300 for first time