Wall Street rises to new highs, boosted by Apple deal

A trader smiles as he works on the floor of the New York Stock Exchange after the market opening in New YorkBy Ryan Vlastelica NEW YORK (Reuters) – U.S. stocks rose Monday, advancing to all-time highs as Apple Inc surged on a distribution deal with China Mobile. Tech titan Apple said Sunday it had signed a long-awaited agreement with China Mobile Ltd to sell iPhones through the world's biggest network of mobile phone users, a deal that could add billions of dollars to its revenue. "This is just good news, and a much bigger strategic deal than had been forecast," said Oliver Pursche, president of the Suffern, New York-based Gary Goldberg Financial Services, which owns the stock. "Apple is incredibly undervalued at this stage, and this deal can help it trade well beyond $ 600 early in 2014." Shares of Apple jumped 3.3 percent to $ 567.13 and the stock's massive market capitalization helped lift both the S&P 500 and Nasdaq.



Business News Headlines – Yahoo! News

Short URL: http://globalnewsmagazine.com/?p=3650

Posted by on Dec 23 2013. Filed under BUSINESS. You can follow any responses to this entry through the RSS 2.0. Responses are currently closed, but you can trackback from your own site.

Comments are closed

Photo Gallery

Log in | Designed by Buy Websites

Disclaimer : All content including images in this site is copyright to their rightful owners. No copyright infringement is intended.