Apple share tops $700 on iPhone 5 success
Wednesday September 19, 2012 10:05:06 AM,
IANS
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Related Article |
iPhone 5 sets a 2 million sales record
iPhone 5
has emerged as the fastest-selling device Apple has ever released
with more than two million first-day orders, twice the one million
orders iPhone 4S racked up on its launch last October.
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New York: Apple's stocks closed higher than $700 per
share for the first time after Tuesday's trading, as orders for
its new iPhone 5 hit a new record.
The share price of Apple gained 0.3 percent to $701.91 per share
when the market closed.
It is now the world's most valuable company measured by market
value if inflation is not considered, Xinhua reported.
Although some reviews of iPhone 5 dismissed it as having no
significant improvement, its orders topped two million during the
first 24 hours of its debut last Friday.
iPhone 5's screen grew to 4 inches from 3.5 inches for earlier
models. It's also the thinnest and lightest cell phone model of
the company.
"Demand for iPhone 5 exceeds the initial supply and while the
majority of pre-orders will be delivered to customers on Sep 21,
many are scheduled to be delivered in October," the company said
Monday.
Despite the record high share price, some analysts still believed
Apple's share would rise further and rated it as "buy" from the
perspectives of both technical analysis and positive outlook of
iPhone 5 sales.
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