Apple shares have climbed to a crazy $700 and even more as the official news about the iPhone 5 demand have reached the web. The stock value increase happened just after the close of Monday’s trading session. The stock opened up over $8 above Friday’s close, after the new regarding the sellout of the iPhone 5.
The new handset, that for the first time adopts a bigger display sold over 2 million units in just 24 hours after being made available via presales. Apple sold 1 million iPhone 4S smartphones during the first 24 hours last year, so this is another recording breaking affair. Preorders for the new iPhone went live at around 3.01 AM EDT on Friday and the launch day inventory was sold out in a mere hour. Also, people are already queuing up at the Apple Stores that will start selling the goods on September 21st.
Starting on that date Apple is expected to reach between 5 and 6 million units in the launch weekend alone, for yet another stock value boost. If Apple does launch an iPad Mini as well next month, I wouldn’t be surprised if their stock value even reached $800 or even $900. Who can stop Apple?!