Apple dominates DJIA, markets brace for new iPhone
U.S. markets opened higher ahead of the holiday weekend on Friday following a weaker-than-expected gain in non-farm payrolls and an unchanged unemployment rate of 4.9%.
The DJIA traded up by 0.39% for the day, with the stock posting the largest daily percentage gain being Apple Inc. (NASDAQ: AAPL) which traded up 0.93% at $107.72. The stock’s 52-week range is $89.47 to $123.82. Volume was about a third less than the daily average of around 32 mln shares.
Ireland has said it will appeal the European Commission ruling demanding that Apple pay EUR 13 bln in back taxes.
But market watchers are waiting for other news this week, as Apple is expected to unveil a new iPhone and maybe even a secondgeneration smartwatch at a special event in San Francisco on Wednesday.
The rumour mill has been grinding away with talk of iPhone 7 models that will boast faster chips, more sophisticated cameras, and improved software while doing away with jacks for plugging in wired headphones, according to AFP.
To assuage users accustomed to wired headphones, Apple could roll out accessories that include an adaptor that plugs into a remaining port. The event would also be a chance to showcase wireless headphones, perhaps some from Beats, which Apple bought two years ago in a deal valued at $3 bln, the AFP report added.
After announcing the sale of its billionth iPhone in July, Apple reported a drop in iPhone sales in the second quarter of this year, a second straight drop after uninterrupted growth since its introduction in 2007.
South Korean consumer electronics giant LG is set to show off a new premium V20 smartphone in San Francisco on the eve of the Apple event. The V20 will be the first to ship with a new Nougat version of Googlebacked Android operating software.
Meanwhile, leading smartphone maker Samsung has announced it will recall its latest flagship smartphone after faulty batteries caused some Galaxy Note 7 ‘phablets’ to explode while charging, in a massive blow to the South Korean electronics giant’s reputation.