Apple shares rose more than 1 percent on Monday, flirting with the $100 level for the first time since June.

The stock price jump came after Softbank announced its bid to acquire Apple chip designer ARM, which would make it one of Apple’s largest suppliers.

AAPL shares met resistance around $100 during periods in May and June, so Apple now faces a key test in its rebound.

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MacDailyNews Take: Someday, $100 for a share of Apple Inc. could look like quite the bargain.