iPhone 8 anticipation drives Apple shares to all-time high

Shares in tech giant Apple hit a record high $163.12 on Tuesday after market researchers IDC released bullish estimates for the Cupertino, California-based firm in anticipation of its new iPhone.

IDC expects Apple to ship 9% more handsets in 2018 than in 2017 as a result of the release of its iPhone 8, 7S and 7S Plus models, marking the biggest growth in shipments for Apple since 2015.

Apple's stock rose 0.9% to $162.91 per share on Tuesday - setting a fresh record close - and carried the tech-heavy Nasdaq that had fallen as much as 0.86% earlier in the day, after tensions between the US and North Korea were reignited in the wake of Pyongyang launching a missile over Japanese airspace, into the green.

On Wednesday, they were tacking on a further 0.09% to $163.05.

In its tenth year, iPhone users exceeded 635m people worldwide and strong brand loyalty was expected to "drive strong iPhone replacement sales and earnings," according to T Michael Walkley at Canaccord Genuity.

As of 1645 BST, Apple stocks had held steady, up 0.20% to $163.23.