SAN FRANCISCO: Apple's stock hit a 2016 high on Sept 14, with its market value peaking above US$600bil (RM2.47tril) for the first time since April as Wall Street bet the technology company's newest iPhone would help shore up falling sales. Its market capitalisation reached nearly US$607bil (RM2.50tril), compared to US$535bil (RM2.21tril) for Alphabet and US$440bil (RM1.81tril) for Microsoft. On Sept 13, Sprint said pre-orders for the iPhone 7 were up nearly four times compared to last year's iPhone. T-Mobile said pre-orders rose nearly four times compared with its next most popular iPhone. Also up on Sept 14 were companies supplying chips and other technology for iPhones: Cirrus Logic rallied 4.3%, Skyworks Solutions gained 3.8% and Jabil Circuit added 2.8%.

Source: The Star September 15, 2016 05:15 UTC