Apple hit a record high market value above $700 billion. Two years ago it stole the crown as the world’s most valuable company. The recent acceleration means that Apple has increased by the equivalent of the next 15 names on that list ranked by market cap. Investors must be asking whether history will repeat itself.
A drive to update plants and equipment is propelling gains in business investment that will probably keep American factories busy even as consumer spending shows signs of cooling. Better wage growth could broaden household purchases beyond automobiles and help sustain the pickup in manufacturing.
Former Microsoft Corp. senior manager Brian Jorgenson was sentenced to two years in prison for insider trading that reaped $400,000 in profit using nonpublic information about the software maker’s quarterly earnings and its investment in Barnes & Noble Inc., the U.S. said.