“Shares of Apple ‘s stock closed higher for the seventh consecutive day on Wednesday, lifting the Dow Jones industrial average,” Anita Balakrishnan reports for CNBC.
“It was the company’s first seven-day win streak since the week ending February 18, 2015, and the stock’s upward move had the most positive impact on the Dow and the Nasdaq 100,” Balakrishnan reports. “Its shares are up about 4 percent over the past week.”
“It all comes just a day after Apple’s stock hit its 2016 intraday high of $118.69 a share, as rival Samsung cut $2.3 billion off its profit guidance for the third quarter,” Balakrishnan reports. “Kulbinder Garcha, an analyst at Credit Suisse, estimates Apple could capture at least half of the volume of Note 7 phones that Samsung was poised to sell. Brian White, a Drexel Hamilton analyst, estimated in a research note that Apple could pick up at least 8 million extra unit sales this calendar year, out of the 10 million to 14 million Galaxy Note 7 phones he expected to be sold in the second half of the year. ”
Read more in the full article here.
MacDailyNews Take: Burned by Samsung? Get a real iPhone.
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