Apple share price climbs to 2016 high ahead of iPhone 5se launch event in best iPhone pre-launch stock rally in years
Apple stock is rising along with anticipation ahead of the launch of its latest iPhone, expected to be unveiled by boss Tim Cook at an event in California in just a couple of hours time.
Shares in the tech giant have touched $107.02 in intraday trading, a high for 2016 as hype mounts around the launch of a smaller-screened lower-end model 5se iPhone.
That's up more than 16 per cent on a 52 week low of $92 and 10 per cent higher than a $97.32 average for the year to date.
After a bumper 2015 when Apple hit all-time highs on the back of record-breaking sales and profits, 2016 brought Apple a little closer down to earth.
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Sales growth fell to its lowest ever rate, it was revealed at the start of the the, while reports of Apple slowing its production in light of a sales slowdown spooked investors and a fall is already evident in analyst figures.
A pre-launch rally is common for Apple ahead of a launches, however USAToday notes that even Friday's rise to close at $105.92 is the best Apple rally in years.
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