Apple Inc. shares gained 0.5% in Friday morning trading after an analyst at Drexel Hamilton penned an upbeat note on the Apple supply chain. Drexel’s Brian White wrote that sales for his “Apple Monitor,” a basket of Apple suppliers, rose 7% in November, ahead of the season average of 6%. White is also optimistic that Apple will have a good holiday season and benefit from the iPhone X over the long term. “We believe this is a durable iPhone cycle that will pay dividends for years to come given that the iPhone X pushes Apple deep into the ultra-luxury smartphone market with the highest-priced iPhone in the company’s history,” he wrote. Apple shares have gained 46% so far in 2017, compared with a 23% gain for the Dow Jones Industrial Average .
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