iPhone 5 Sets New Records and Sends Stock Prices Soaring‏

Apple has seen a lovely reaction from their fans since announcing the iPhone 5 this past week. Not only have all Apple stores sold out of them already through pre-order (which caused shipment delays for both direct consumers and cell phone providers), they have also seen their stocks rise to a new record. Thanks to the frenzy that Apple’s fans have for the brand and their devices, shares rose to $694.19, which equals a 1.64% price increase. They are approaching to break an all time high that they could break in a week or two, if this trend continues onward. As for the shortage of actually ready to ship phones, it appears Apple was preparing for the worse. Many people predicted the iPhone 5 would have weak sales compared to the previous versions, partly thanks to running out of ideas and the Android based phones. However, it appears that the predictions were wrong and Apple is now facing a backlog of orders.

For Apple as a whole, this is good news as they won the US side of the Samsung lawsuit and started the banning process of the Samsung Galaxy line. It appears that Apple has yet to lose their mass appeal, even though many Android fans are not pleased with Apple’s recent attacks. Apple has yet to release a statement on their backlog of orders nor have they addressed the exciting news of their new record high in stock prices.