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Apple Inc’s (NASDAQ:AAPL) stock jumped 2.3 percent – a high not seen since December.
Marketbeat reported that on Monday, Apple Inc’s (NASDAQ:AAPL) stock jumped 2.3 percent – a high not seen since December. This is due to Samsung Electronics announcement that they are suspending production of its flagship Galaxy Note 7 smartphones following reports of fires in replacement devices.
As quoted in the article:
Apple’s stock was up $2.66 at $116.72 in afternoon trading and was the largest contributor to gains on the S&P 500. Earlier, Samsung’s stock dipped 1.5 percent.
Samsung’s ongoing problems suggested the world’s largest smartphone maker has failed to fix a problem that has already damaged its brand and threatened to derail a recovery in its mobile business.