A customer buys the new iPhone 7 smartphone inside an Apple Inc. store in Los Angeles, California, U.S., September 16, 2016. REUTERS/Lucy Nicholson
SAN FRANCISCO: Apple Inc's stock on Oct 10 jumped 2.3%, reaching a high not seen since December, after rival Samsung Electronics Co Ltd suspended production of its flagship Galaxy Note 7 smartphones following reports of fires in replacement devices.
Fires in the smartphones that were meant to replace devices that had been recalled because of their propensity to explode could be a disaster for Samsung and a potential boon to Apple.
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