Apple stock soars, smartphone makers sink

Following the introduction of the iPhone today, Apple stock rose $7.10, or more than 8 percent, to end the trading day at $92.57 a share. Meanwhile, being negatively affected by the iPhone, shares of smartphone makers Palm and Research In Motion (RIM) fell sharply. In the wake of the announcement, investors sold off shares of RIM, maker of the Blackberry line of devices, causing the stock to fall nearly 8 percent, or more than $11. Palm, maker of the popular Treo handheld, saw its stock drop nearly 6 percent.

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