Apple shares top $300 for first time

Apple's shares topped $300 for the first time, as the iPad continues to surpass investor expectations and the company looks to expand in China.

Shares of Apple Inc. climbed $2.12 to $300.66 in morning trading Wednesday.

Apple has been on a tear lately, with sales of the iPad tablet surpassing expectations. Investors also have high hopes for Apple's push into China, where the iPhone maker is looking to open 25 retail stores next year.

Morgan Keegan analyst Tavis McCourt says the recent acquisition of app developer ngmoco is also a huge plus for Apple. He says that's because app developers flock to the platform that will let them make the most money.