Apple shares hit record high as iPhone 5 fever sets in worldwide

“Apple Inc shares rose on Friday, touching a record high after the company said some customers must wait two to three weeks for the new, slimmer, faster iPhone 5, suggesting strong global demand for the smartphone that accounts for half of its revenue,” Poornima Gupta and Sayantani Ghosh report for Reuters.

“Apple’s U.S. [online] store was projecting shipments for the iPhone 5 would take two weeks to fulfill, with analysts saying the date slipped within an hour of the start of presales,” Gupta and Ghosh report. “The company’s website showed buyers in United Kingdom, France and Germany would have to wait as much as three weeks to receive orders when the iPhone 5 starts shipping next Friday, the first day of deliveries.”

Gupta and Ghosh report, “The new model would also be available in Apple’s stores next Friday for walk-in purchase. Retailers like Wal-Mart Stores Inc and Best Buy Co are also taking preorders for the new iPhone at their stores. ‘Clearly, iPhone 5 fever is in full swing,’ Topeka Capital Markets analyst Brian White said… Apple shares rose 2 percent at mid-day to $696.68 in heavy trading on the Nasdaq. The shares earlier touched an all-time high of $696.98.”

Read more in the full article here.


    1. Yeah, I guess either millions of people were touched with the idiot stick, or the pundits were full of crap—no, that’s never happened…

      At least the jackass pundits have been forced to abandon the “reality distortion field” theory to explain why their expert predictions of consumer behavior failed, since even they admit that only Steve Jobs could project it.

  1. This is attributable to Tim Cook’s genius of “doubling down on security.”. No, I’m not being sarcastic. I believe the leaks were Apple’s secret weapon against all the rumors and hysteria that have historically caused the traditional before and product launch spikes and dives of the stock price. Cook knows just how to manage expectations. The leaks kept the hysteria in check will feeding the press with enough to keep consumer interest. All the while, managing the often over-zealous expectations of Apple fans and detractors. Can you imagine the beating Aple would be taking right now if the “liquid metal, NFC, Jesus phone” expectations of the past had not been tempered by the leaks? Yes, Tim Cook=Marketing Genius.

      1. What’s with the constant negative nancy posts regarding Tim Cook, it’s getting ridiculous. Whomever that was, he/she made great points, and the iPhone’s amazing start out the gate, with a positive response by the media, clearly shows that Tim knows what he’s doing. But really, if you watched the keynote and you still aren’t convinced that apple is still firing on all cylinders, there’s something wrong there.

        1. The positive response by the media is the big tipoff here, as that was usually negative in the past, as was the Street’s. The tradeoff between the “surprise” effect and the “expectation” effect seemingly resulted in a game-theoretical matrix that pointed to a “managed leak” model showing promise in influencing both stock traders and tech reviewers. With this much market capitalization at stake, I wouldn’t doubt Apple slyly ascending to a new level of manipulation.

  2. So predictable.

    2007: Apple announces the iPhone, and everybody who posts on tech sites like engadget and gizmodo grumbled that it was “too big” and “too expensive” to be popular. It becomes an enormous success.

    2008: Apple announces the iPhone 3G, and the same tech site comment-spewers grumbled that all it added was 3G and GPS, “no big deal”, “boring”, “not enough”. It becomes an enormous success, smashes the original iPhone’s sales records.

    2009: Apple announces the iPhone 3GS. Geeks on tech sites complain that it looks exactly the same as the 3G and only brings more speed and memory to the table. They say it won’t sell because it’s just an incremental upgrade. It becomes an enormous success, smashes all sales records.

    2010: Apple announces the iPad. Nerds on tech sites claim it’s nothing special, “just a big iPod Touch”. They complain that it lacks a camera. They say what they really wanted was a full-blown Mac OSX desktop OS shoehorned into a touch-tablet with a stylus just like Windows XP tablets. They say it won’t sell. It goes on to sell more in one year than all Windows tablets ever sold.

    Also in 2010: Apple announces the iPhone 4. Nerds this time complain that they had seen it leaked already and something about antenna-gate this-and-that. “It won’t sell.” It becomes an enormous success, smashes all previous sales records.

    2011: Apple announces the iPhone 4S. Again, geeks spewing comments on tech sites from their parents’ basement complain that it looks the same as the 4 and is too incremental to be a big deal. “No one will buy it.” It goes on to smash all previous sales records.

    2012: Apple announces the iPhone 5: Nerds whine that a bigger, higher-resolution screen, faster processor, LTE, 802.11n, better camera, and thinner/lighter design isn’t enough. Too “incremental” they said. “Boring.” Pre-orders go online in the middle of the night and sell out within one hour. Lines outside stores next Friday will be around the block, and all previous sales records will be smashed.

    Anyone notice a pattern emerging?

    1. Outstanding!

      Yes, the pattern is predictable and as you pointed out the naysayers are universally wrong.

      The peach (Apple) is a perfect fruit, but naysayers grew nectarines (Android) instead.

      Go figure.

    2. In my walk down memory lane I forgot to mention how “It’ll be impossible to type on a touch screen,” (original iPhone) and “you can’t read a book on an LCD screen” (original iPad).

      1. Your whole takedown is absolutely brilliant, illuminating, and devastating. Too bad the brain damage of those fools is too advanced to ever adapt to reality. They will continue to pollute the Internet with irrelevant ravings. We must perforce suffer the crazies in the attic.

  3. I’m soooo tired of the hit whore journalists and everyone slagging the iPhone 5 as being bla.
    It is the perfect shape, they have lightened it, made it better, but still people complain. What the hell do you want Apple to do, make it transform into a helicopter or some other stupidness?
    Give it a rest, the phone is great, I don’t want them to change it to something stupid just to satisfy the whiners that want an all new phone, stupppseee.

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