Record Number of iPhone Preorders

Record Number of iPhone Preorders

Apple Reports 2 Million iPhone Sales In 24 Hours


SAN FRANCISCO. — Apple (AAPL) stock soared on Monday after they disclosed that they receivehat 2 million pre-orders of the new iPhone 5 smartphone in just the first 24 hours.

The company is now deferring October 2012 deliveries of the new iPhone due to the overwhelming demand for them. Apple’s Sr. VP of worldwide marketing Philip Schiller is on record stating that “Demand for iPhone 5 exceeds the initial supply.”

According to a news story, shares of Apple stock climbed nearly one percent to $697.75 on Monday, a new all-time high. This year so far Apple has advanced by 70%. The iPhone 4S, last year’s new product sold more than a million units in its first 24 hour period of pre-orders.

Thinner, and lighter than earlier versions of the smartphone, the new iPhone sports a larger touchscreen, and it is the first Apple phone able to connect to the new 4G wireless network infrastructure.