Apple stock set to jump as US markets open

Tech giant Apple is set to be greeted with approval by investors this afternoon.

As US markets open at 2.30pm Apple shares could jump by four per cent on news that the company has agreed a tie-up with Chinese state-owned network China Mobile.

The network has more than 750m subscribers - while the entire population of the US is just 318m. Marc Kimsey, senior trader at Accendo Markets says that Apple's five per cent share of the $80bn Chinese smartphone market should "increase significantly in 2014."

The deal is also the reason behind the surge in shares of the FTSE 100 listed tech company, Arm Holdings, which designs the chips that power Apple's iPhone devices.