Apple edges stock market after catapulting to 4 percent up at the closing of market on Wednesday even majority are suffering flat. Financial analysts trace the upsurge to announcement of iPhone 7 and other Apple products earlier in September.
Apple enjoys position as only stock to experience at least 10 percent gain this second week of Sept at Dow Jones. In comparison, other 30 stocks report stagnancy or minimal gains since weekend. This translates that consumers and investors have high expectation on Apple iPhone 7, Watch 2 and Mac computers. Investors believe there would be increase in Apple sales next year.
Looking at stock market development in Apple perspective, the company left rival and the Android owner Alphabet trailing at $60 billion disparity. Apple is worth $600 billion right now with possibility of higher gains due to continued hyping of new products, CNN said.
Meanwhile, two major US wireless services T-Mobile and Sprint affirm that there is higher volume of preorders for Apple products. Both companies share common 400 percent increase in iPhone 7 and iPhone 7 Plus' preorders. If preorders from other key players are to be added, the final figure could be mind boggling. Further, there is possibility of upsurge this holiday season considering the time window before Apple's release dates.
Another sleight of luck for Apple is the recall order of another rival Samsung Electronics. A series of Galaxy Note 7 is on recall list because of battery explosion and fire-causing tendencies.
There are almost 2,000 Samsung units subject for recall but the total volume is not a factor anymore for its decline. Since this recall order is highly-publicized, iPhone 7 suddenly grabs the market, Reuters reported.
To recall, portfolio managers lost confidence that Apple can bounce back from value stock classification after dipping low in July. Apple stayed low since without any growth play. However, recent trend posts Apple as another valuable company with total of 25 percent for third quarter.