Apple’s stock has hit a 2016 after strong iPhone 7 sales and Samsung’s Galaxy Note 7 woes (Source: AP) Apple’s stock has hit a 2016 after strong iPhone 7 sales and Samsung’s Galaxy Note 7 woes (Source: AP)Apple’s stock hit a 2016 high on Wednesday, with its market value peaking above $600 billion for the first time since April as Wall Street bet the technology company’s newest iPhone would help shore up falling sales. Its market capitalization reached nearly $607 billion, compared to $535 billion for Alphabet and $440 billion for Microsoft. On Tuesday, 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. Specific details about sales of the new iPhone are scarce after Apple announced last week it would not release weekend sales data, saying the number was more a reflection of supply than demand.

Source: Indian Express September 15, 2016 08:07 UTC