As the official retail launch of the iPhone 5 approaches, shares of Apple stock have now climbed to a staggering new high, and have now exceeded $700 per share in after hours trading – the first time it has ever crossed the $700 barrier!
The news follows this morning’s announcement that Apple sold over two million iPhone 5 pre-orders in the first 24 hours. Pre-orders for the iPhone sold out on Apple’s website in less than an hour, and sold out at AT&T and Verizon’s sites in less than 12 hours. Apple released a statement on Friday saying they were “blown away” by the pre-order response.
Apple’s stock still has a lot of room to grow as well – especially if the opening weekend sales numbers are as spectacular as the pre-order figures!