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Apple on course for $1-trillion valuation

The glass-and-steel $999 phone appeared to have brought back the frenzy associated with iPhone launches


Apple Inc's shares rose to a record high on Friday as more analysts set a trillion-dollar valuation on the company, following a blowout fourth quarter and an upbeat forecast that quashed investor concerns around the iPhone X. The stock rose as much as 3.7 per cent to $174.26, briefly breaching $900 billion in market value, amid declines in the broader market. The gains added nearly $32 billion to the company's market capitalization. The Cupertino, California-based company also forecast a strong holiday quarter ahead, which will include the iPhone X that started selling on ...

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First Published: Sat, November 04 2017. 00:14 IST