Apple stock climbs on 5G iPhone expectations ahead of event

Apple’s stock was up significantly in US trading Monday ahead of a much-anticipated event where the tech giant is expected to unveil its 5G-capable iPhone 12 line-up.

The company is the most expensive on Wall Street with a value of $2.03 billion as of the close of Friday trading, and its share value on Monday was up 4.8 per cent at $122.59 around 1550 GMT.

Analysts expect Apple to introduce a selection of iPhone 12 models in multiple sizes, with some shipping earlier than others due to the toll the pandemic has taken on the company’s supply chain.

The new model will be particularly notable for being tailored for the super-fasted 5G telecom networks taking root around the world.