Customers at the Apple Store on New York's Fifth Avenue wait to buy their iPhone X, Friday, Nov. 3, 2017. (AP Photo/Richard Drew)
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Apple Inc. briefly became the U.S.' first $900 billion company on the day its stores around the world were inundated with customers trying to get their hands on the new iPhone X.The shares gained as much as 3.7 percent to $174.26, briefly tipping Apple's market capitalization above $900 billion."It's selling at less than the market multiple," Hank Smith, chief investment officer at Haverford Trust, which owns Apple shares, said in a Bloomberg Television interview. He said that unlike those other companies, Apple has to convince consumers to buy a new phone annually.
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