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Shares of Apple (NASDAQ:AAPL) jumped 1.20 percent this morning. The tech giant continues to see momentum after unveiling the iPhone 5 yesterday. The new smartphone, launched by senior vice president of worldwide marketing, Phil Schiller, at the company’s media event in San Francisco, has a screen display that measures 4 inches diagonally and features five rows of icons, plus the four shortcuts on the bottom. “It is an absolute jewel,” Schiller said. “It is the most beautiful product we have ever made, bar none.”
Verizon (NYSE:VZ) looks set to benefit from the iPhone 5. Fran Shammo, the company’s chief financial officer, claims Verizon will not suffer a large hit in profit margins due to subsidizing the new smartphone. Customers are purchasing larger data plans than expected. Furthermore, Verizon is America’s largest 4G LTE network.
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Facebook (NASDAQ:FB) shares edged lower after posting their biggest one-day gain since going public in May. Mark Zuckerberg spoke at the TechCrunch Disrupt conference and focused his attention on mobile, pleasing shareholders. He said, “What we are seeing already, even with the early mobile ads that we have, is that they are performing even better than the right hand column ads on desktop…there’s a huge opportunity.”
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