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Kate Middleton isn’t pregnant with baby no.3, despite report
Meghan Markle avoids Prince Harry questions at ATX panel
Kate Middleton and Prince William to embark on royal tour of Poland and Germany
Kate Middleton reveals her and Pippa’s nicknames in school
Duchess Kate shines in marine outfit at London event

iPhone 5 launch drives Apple shares to new high

by Nicole
September 14, 2012 at 1:53 pm

The company’s stock soared after the release of the iPhone 5 on Wednesday.

Photo Courtesy of Apple

Apple’s stock jumped to $696.72 on Thursday, with an intraday high of 685.50, pushing the shares $13.74, or 2%.

Analyst speculation predicts that the device will be the best-selling smartphone of all time and it’s expected to boost Apple sales by the end of the year.

According to USA Today, Apple’s market value rises at $651.5 billion, which makes bigger it than the value of the Standard & Poor’s 500 index in August 1978.

The site also writes that shares for the company climbed 68 % this year alone.

“Wall Street analysts are still extremely bullish. Of the 40 Wall Street analysts who cover the stock, 39 rate it either a “strong buy” or a “buy” and one just rates it a hold,” the publication states.

Apple’s iPhone 5 was unveiled Wednesday at a live keynote and pre-orders for the device exhausted the stocks within an hour after opening at midnight.

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