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Apple stock rises to record amid optimism about new products

Apple Inc.'s stock closed at an all-time high, surpassing a 2012 record as investors look ahead to new products such as bigger-screen iPhones and a wristwatch-like device that may jump-start revenue growth. Apple rose 1.4% to $100.53, topping the split-adjusted record of $100.30 reached Sept. 19, 2012, just before the iPhone 5 went on sale. The shares have gained 25% this year. After rising more than sevenfold following the 2007 debut of its smartphone, Apple stock lost a third of its value in the year after the iPhone 5's release on concerns that the company was running out of hit product ideas without co-founder Steve Jobs. The tenor has changed, with analysts estimating record...

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