Now Worth $600 Billion: Apple Shares Hit New 2016 High Following iPhone 7 Launch

Apple shares hit a new high for 2016 today following the unveiling of the iPhone 7 and Apple Watch Series 2, which become available Friday.

The stock traded at more than $113, which valued the company at a new high of $607 billion. Apple’s 52 week high is $123.82.

Apple wisely hiked supply orders for the iPhone 7 after Samsung was forced to recall millions of Galaxy smartphones, so investors are anticipating a massive quarter for the company.

Wireless carriers across North America noted that iPhone preorders are stronger than ever this launch, another very strong sign of good things to come for Apple.

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