Apple's stock price has surpassed US$300 for first time since its market debut in 1980, thanks to booming sales of iPhones and iPads.

The record-high price makes Apple the most valuable IT firm and second-most valuable company in the U.S. in terms of market capitalization.

Apple rose $1.6 or 0.5 percent on the Nasdaq on Wednesday to close at US$300.14.