Ap­ple dom­i­nates DJIA, mar­kets brace for new iPhone

Financial Mirror (Cyprus) - - FRONT PAGE -

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.

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