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10/11, 4:04 PM (Source: TeleTrader)
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Apple reaches record high first time in over one year

The market capitalization of Tim Cook's hardware and software empire was nearing the level of its archrival Microsoft on Friday. Apple Inc. surged 1.57% to touch $233.71 for the first time. Its last intraday high was registered on October 3 of last year. Both technology titans are worth more than $1.05 trillion.

The company based in Cupertino, California, benefited from the drastic improvement in sentiment as investors speculated on success in negotiations between the United States and China. President Donald Trump is receiving Vice Premier Liu He, who came from Beijing, which indicates progress in talks on a comprehensive deal, though insiders have raised the possibility of a mini agreement like the one with Japan.

The iPhone maker's shares are 48.16% up since the start of the year, compared to the gain of 15.16% in the benchmark Dow Jones Industrial Average index. The market cap was $1.0557 trillion, still behing Microsoft's $1.0723 trillion.

Breaking the News / IT