Apple Inc. (AAPL) surpassed $700 in late trading after announcing record first-day orders for the latest iPhone, fueling optimism that the company will keep generating the revenue growth that transformed it from a niche computer manufacturer into the world’s most valuable business. Shares climbed as high as $700.44 after reaching a record $699.78 at the close in New York. The stock has advanced 73 percent this year. The iPhone 5, which features a bigger screen, faster chip and a lighter body, sold 2 million units in first-day orders, more than double a record set by the previous model, Apple said. Since its 2007 ... (full story)