Apple's stock hit a new high Friday after a four-month swoon, as investors looked ahead to the release of a new iPhone and possibly a smaller iPad.
Already the world's most valuable company, Apple Inc. saw its stock hit $648.19 just before closing, before retreating to $648.11. That was up $11.77, or 1.9 percent, from Thursday's close.
The previous high for the stock was $644, hit on April 10.
Apple has a market value of about $608 billion, almost 50 percent higher than No. 2 Exxon Mobil Corp. at $408 billion.
Apple's stock fell last month after the company's earnings report for the April-June quarter showed the slowest growth in more than two years. It
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