Record iPhone orders push Apple shares toward all-time high
Pre-sales for new model power rebound. Reclaims position as world's most valuable company.
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Following a brief dip after the death of its founder, Apple has rebounded strongly to reclaim its position as the world's most valuable company.
Yesterday, Apple said it had received more than 1 million iPhone 4S pre-orders in 24 hours, breaking the previous record (around 600,000) set by the iPhone 4.
The company's shares rose 5.14%, making up for a dip following co-founder Steve Jobs' death.
Today, Apple shares [NAS:AAPL] were up another 2.95% in late trading to $US400.12.
On the first trading day following Mr Jobs' death, shares fell as low as $US372 before rallying.
Today's rise nudged the Apple closer to its recent all-time high of $US422.86 and re-established it (by a hair) as the world's most valuable company with a market cap of $US370.29 billion (second-placed Exxon Mobil's [NYSE:XOM] market cap stood at $US369.86 in late trading).
Apple has been taking pre-orders via the web ahead of the 4S' launch in the US, Canada, France, Germany, Japan, UK and Australia this Saturday NZ time.
23 more countries will see the new iPhone before the end of the month. New Zealand is not among them. A local release date has yet to be set, an Apple Australia-NZ spokesman told NBR.
Chris Keall
Wed, 12 Oct 2011
Wed, 12 Oct 2011
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Record iPhone orders push Apple shares toward all-time high
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