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Apple stock surges to record on US-China deal and iPhone gains

Handset ramp-up and low-cost streaming service contribute to 3% rally Friday

Chinese customers examine an iPhone 11 Pro Max. China accounts for 30% of Apple's profits by some estimates.   © Reuters

NEW YORK -- Apple stock surged to an all-time high Friday on Wall Street, its first in a year, on a reported increase in production of new iPhone models and word of a partial trade deal between the U.S. and China.

The smartphone giant jumped around 3% to $237.64 in intraday trading. It has gained more than 40% since the start of the year, the best performance in the Dow Jones Industrial Average. It closed the day at $236.21

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