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Lifestyle

September 18, 2012

Apple: iPhone 5 orders topped 2M in 24 hours

Orders for the iPhone 5 topped 2

million in their first 24 hours, more than double the amount of its

predecessor over the same period.

Apple started taking iPhone 5 orders at 3 a.m. on Friday.

The

company also says that while most orders will be delivered on Friday,demand for the iPhone 5 exceeds the initial supply, so some of the

devices are scheduled for delivery in October.

The Cupertino,Calif. company's stock added $5.21 to $696.49 in afternoon trading after

rising as high as $699.54 earlier in the session.

The iPhone 5

represents the first major revision of the iPhone's screen size since

the first model was introduced in 2007. The new iPhone has an elongated

screen —4 inches (10.16 centimeters) measured diagonally— that allows

room for another row of icons and lets widescreen movies fit better. The

calendar will now show five days at a time instead of just three.

Previous iPhone models had 3.5-inch (8.89-centimeter) screens. The new

phone is also thinner and weighs less than previous models. It can

operate on LTE cellular networks and sports a new processor and updated

software.

T. Michael Walkley, an analyst with Canaccord Genuity,said he believes the iPhone 5's "differentiated form factor versus the

iPhone 4S" and other improvements should drive strong iPhone 5 sales.

The record advanced orders on Friday and through the weekend caused

Walkley to revise his previous prediction that Apple would sell 6

million of the new iPhones by September 29. He now believes "Apple could

ship 9 million to 10 million" in that time, he told investors in a note

on Monday.

Janney Capital Markets analyst Bill Choi said Apple's

announcement Monday "suggests iPhone 5 is running well ahead of iPhone

4S." In a note to investors, Choi reaffirmed his earlier expectation

that Apple will sell 7 million to 10 million iPhone 5s by the end of

September.

It won't be easy for Apple to top the breakneck sales

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