Apple of global investment’s eye

A RISE in Apple shares on Tuesday pushed the market value of the trend-setting US tech icon above $700 billion (R7.7 trillion), becoming the first company to hit that milestone. Apple shares rose nearly 1 percent in morning trade to $119.75, making its market capitalisation some $701.7 billion. The shares were fluctuating in a narrow range later. The maker of the iPhone and iPad is by far the world’s most valuable company by stock market value, well ahead of Exxon Mobil at $403 billion and Microsoft at $394 billion. Investors and analysts were upbeat on Apple at the start of the holiday shopping season, expecting strong sales during the gift-giving period that kicks off in the US with Thursday’s Thanksgiving holiday.