Finance

Apple shares shoot upward in anticipation of launch of iPhone 12

by Charlie Smith on October 12th, 2020 at 1:48 PM
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      Apple showed again today that it remains a Wall Street darling.

      Today, the shares climbed 6.35 percent to close at US$124.52 on the New York Stock Exchange.

      The Cupertino, California–based company is worth US$2.16 trillion.

      That exceeds the gross domestic product of all but seven countries: United States, China, Japan, Germany, India, United Kingdom, and France.

      The big run-up came a day before the expected launch of the iPhone 12.

      It will include 5G wireless technology and faster processing chips. And it's expected to be the first major redesign of the iPhone since 2017.

      According to a leak on Weibo, a Chinese social media site, the iPhone 12 will come in four different sizes. And prices will range from US$699 to US$1,099.

      Apple has scheduled an online event at 10 a.m. Pacific daylight time on Tuesday (October 13), where the iPhone 12 is expected to be unveiled.

       

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