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Wall Street Gains as Apple Scales New Peak on iPhone 5

September 21, 2012
Reuters

Apple Inc climbed 0.9 percent to $704.78, after earlier hitting an all-time high of $705.07. The iPhone 5 hit stores around the world, giving the world's most valuable company a boost ahead of the crucial end-of-year holiday season. "In a stable full of donkeys, there is one racehorse, and everyone is buying the racehorse," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago, in reference to Apple. "You have - which is something rare in the market these days - a stock that has fundamental value. It's not just a headline. It's not just hope."

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