1. Apple iPhone launch today: World’s most valued company gains $15 billion in market cap ahead of iPhone launch

Apple iPhone launch today: World’s most valued company gains $15 billion in market cap ahead of iPhone launch

Apple Inc shares advanced nearly 2% on Monday ahead of the 10th anniversary of iPhone where the tech giant Apple is all set to launch iPhone 8 later today.

By: | Updated: September 12, 2017 3:36 PM
Apple Inc has gained about billion in a single day trade — in its market capitalisation. (Image: Reuters)

Apple Inc shares advanced nearly 2% on Monday ahead of the 10th anniversary of iPhone where the tech giant Apple is all set to launch iPhone 8. Apple rose as much as 1.81% in a day ahead of the expected launch of a new iPhone to $161.5 on NASDAQ and was the biggest contributor to the Nasdaq and S&P 500 index respectively. Interestingly, Apple Inc has gained about $15 billion in a single day trade — in its market capitalisation.

The market capitalisation of Apple Inc rose $14.82 billion to $834.18 billion on Monday, 11 September versus $819.36 billion as on 8 September 2017. On contrary, shares of Samsung — the arch rival of Apple ended 0.4% down to KRW 24,80,000 on Korean Exchange of South Korea.

US stocks rallied to record highs Monday as Hurricane Irma weakened without causing as much damage as many had feared, and a North Korean holiday passed without new missile launches, Associated Press reported. The Standard & Poor’s 500 index made its biggest gain since late April as it rose 1.1% to finish at a record high of 2,488.11 points. The Dow Jones industrial average gained 1.2% to 22,057.37 points in its largest one-day gain since February. The Nasdaq composite too jumped 1.1% to 6,432.26 points, three points below the record closing high of 1 September 2017.

Apple is all geared up to launch all new iPhone in its 12 September event. Other than the much-anticipated iPhones the tech giants will also launch a new company campus called the Apple Park and the keynote speech will be held at the Steve Jobs Theater. The new Apple devices will be launched in three variants — iPhone 8, iPhone 8 Plus and iPhone X. Apple will mark the 10th anniversary of the iPhone by announcing a grand new device with many new features.

While the iPhone 8 and 8 Plus mobiles are expected to be the upgrades to the iPhone 7 series, the iPhone X will be an all new smartphone. The iPhone 8 and 8Plus will be upgraded variants of the iPhone 7 and iPhone 7 Plus. There will be some notable improvements in terms of camera, battery, display and other specifications and features. However, all eyes will be on the iPhone X (probably pronounced as iPhone 10). After all, it will be the 10th anniversary iPhone.  Apple’s September 12 event or the iPhone X event takes place at 10.00 AM Pacific Time (PDT) which is 10.30 PM IST in India.

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