“Apple Inc. (AAPL) is poised for a record iPhone 5 debut and may not be able to keep up with demand as customers line up from Sydney to New York to pick up the latest model of its top-selling product,” Adam Satariano and Ryan Faughnder report for Bloomberg.
“The iPhone 5, introduced last week, hits stores today in the U.S., Australia, Canada, France, Germany, Hong Kong, Japan, Singapore and the U.K,” Satariano and Faughnder report. “The crowds reinforce estimates from analysts the iPhone 5 will be the largest consumer-electronics debut in history. Apple may sell as many as 10 million iPhones during the weekend sales rush, according to Gene Munster, an analyst at Piper Jaffray Cos. Because Apple generates about two-thirds of its profit from the iPhone, a successful introduction is critical to fuel growth that has led investors to catapult Cupertino, California-based Apple to the world’s most valuable company.”
MacDailyNews Take: Since inception, Apple has always been the world’s most valuable company.
Satariano and Faughnder report, “Apple is introducing the iPhone across the world faster than any of the device’s five previous debuts. The iPhone will go on sale in 22 more countries on Sept. 28, Apple said. Apple said it will be in more than 100 countries by the end of the year… The benefits of a successful iPhone debut extend beyond Apple. Suppliers including Qualcomm Inc. (QCOM), Broadcom Corp., LG Display (034220) and Hon Hai Precision Industry Co. (2317), the owner of Foxconn Technology Co. (2354), also will see a gain, according to Barclays.”
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