Apple's stock jumped 2.3 percent on Monday, reaching a high not seen since December, after rival Samsung Electronics Co. suspended production of its flagship smartphones Galaxy Note 7 Following reports of fires in replacement devices.

Fires in the smartphones harm Were Meant to replace devices been hurt military Recall Because of their propensity to explode could be a disaster for Samsung and a potential boon to Apple.

Apple's stock was up $ 2.66 at $ 116.72 in afternoon trading and was the Largest contributor to gains on the S & P 500. Earlier, Samsung's stock Dipped 1.5 percent.

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