24 hours after reviewers around the world described the new Samsung Galaxy Note 7 as the best new smart phone in the world shares in Samsung Electronics have searched to an all-time high.
Overnight shares in the Korean manufacturer jumped 4.7% to finish the day at US $1480 a share this capitalises the company at US $210 billion this is five times more valuable than Sony they are also ahead of Intel Coca-Cola and Visa however they still have a long way to go catch Apple who is capitalised at $562 billion.
Samsung’s surge comes after the company reported its most profitable quarter in two years last month, as operating profit at its mobile unit jumped 57% in the April-to-June period from a year earlier.
Analysts are now tipping that the new Galaxy Note 7 is set to prove extremely popular with pre-order supplies already running out in Europe and several other markets.
The Note 7 has a new and improved waterproof design and stylus, significantly improved software and a lot more functionality than the iPhone.
Samsung’s stock gains, which have boosted the company’s value by 44% over the past year, stand in contrast to rival Apple which has seen their stock value fall 5.8% over the same period amid slumping iPhone sales.
The Wall Street Journal said that Samsung’s price-to-earnings ratio, a measure of the premium that investors assign to a company relative to profit expectations, has nearly caught up with Apple for the first time in about three years.
