Apple stock hits highest since Dec on Samsung Note 7 fire crisis


  • Apple stock jumped 2.3 percent, reaching a high not seen since December
  • Samsung suspended production of its flagship Galaxy Note 7 smartphones
  • Fires were reported in replacement devices

Reuters

Apple stock has jumped 2.3 percent, reaching a high not seen since December, after arch rival Samsung suspended production of its flagship Galaxy Note 7 smartphones following reports of fires in replacement devices.

Fires in the smartphones that were meant to replace devices that had been recalled because of their propensity to explode could be a disaster for Samsung and a potential boon to Apple.

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. 

Apple stock has jumped 2.3 percent, reaching a high not seen since December, after arch rival Samsung suspended production of its Galaxy Note 7 following fires in replacement devices.

Apple stock has jumped 2.3 percent, reaching a high not seen…



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