Apple extends gains after iPhone 5 launch
NEW YORK (AFP) - Apple shares extended their gains on Thursday amid a generally positive response to the launch of the new iPhone 5, aimed at keeping the California firm ahead of its peers in the hot smartphone market.
Apple shares added 1.97 per cent to close at US$682.98, building on modest gains on Wednesday.
Mr Brian White at Topeka Capital Markets said he maintains a strong buy rating for Apple.
"We felt Apple executed to perfection and we believe the iPhone 5 was even more aesthetically pleasing than many had expected with a completely redesigned architecture," he said.