iPhone optimism blasts Apple stock to 2016 high

Apple's stock hit a 2016 high on Wednesday, with its market value peaking above $600 billion for the first time since April as Wall Street bet the technology company's newest iPhone would help shore up falling sales. Fueled by U.S. wireless carriers' reports of strong early orders for the iPhone 7 as well as arch-rival Samsung Electronics' widely-publicized recall of potentially exploding Galaxy Note 7 smartphones, shares of Apple were up 4.6 percent at $112.57 and had gained 7 percent in the pa