So far this week, US tech giant Apple Inc (NASDAQ:AAPL) has added some US$50bln to its market value amid positive reviews and strong pre-order sales of the iPhone 7.
Shares in the tech firm gained 3.5% yesterday, after climbing 2.2% and 2.4% on Monday and Tuesday respectively.
The iPhone 7 is set to hit shelves around the world tomorrow (Friday) and despite initial fears, it seems investors are becoming more optimistic about Apple’s latest offering.
Bullish talk around pre-orders from big US wireless carriers like Sprint and T-Mobile has helped to drive investor sentiment as well as the share price.
Both firms said pre-orders were up nearly four times compared to last year’s iPhone.
An AT&T executive said that pre-orders were up, although Verizon said volumes were within the expected range.
RBC Capital reiterated its ‘outperform’ rating on the stock yesterday and analyst Amit Daryanani said several tailwinds could see Apple put in a strong performance over the coming months.
Darayanani said Apple could even grab market share from Samsung given the problems its had with its Galaxy Note 7.
The stock was set to add even more gains on Thursday.
Shares were up 3c, 2.8%, to US$114.88.