Apple share price climbs to 2016 high ahead of iPhone 5se launch event in best iPhone pre-launch stock rally in years

Lynsey Barber
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Launch Of The iPhone 6 & iPhone 6 Plus
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Apple stock is rising along with anticipation ahead of the launch of its latest iPhone, expected to be unveiled by boss Tim Cook at an event in California in just a couple of hours time.

Shares in the tech giant have touched $107.02 in intraday trading, a high for 2016 as hype mounts around the launch of a smaller-screened lower-end model 5se iPhone.

That's up more than 16 per cent on a 52 week low of $92 and 10 per cent higher than a $97.32 average for the year to date.

After a bumper 2015 when Apple hit all-time highs on the back of record-breaking sales and profits, 2016 brought Apple a little closer down to earth.

Apple share price Apple share price | mobile image

Sales growth fell to its lowest ever rate, it was revealed at the start of the the, while reports of Apple slowing its production in light of a sales slowdown spooked investors and a fall is already evident in analyst figures.

A pre-launch rally is common for Apple ahead of a launches, however USAToday notes that even Friday's rise to close at $105.92 is the best Apple rally in years.

Keep on top of the latest news from today's Apple event as it happens with our live coverage here.

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