iphone

The iPhone 5 is selling like ... iPhones, only better.

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

pace set by previous iPhones. Apple said last year that it sold over 4

million iPhone 4Ss just three days after its launch on October 14. That

launch occurred less than two weeks after the death of Apple's iconic

founder Steve Jobs and as the iPhone 4S went on sale, scores of Apple

devotees were still mourning him with candlelight vigils and impromptu

memorial ceremonies outside of Apple stores across the globe.

The

iPhone 5 will be available at Apple's 356 U.S. stores starting Friday.

It sells for $199 for the 16 gigabyte model, $299 for the 32 GB or $399

for the 64 GB model. Each customer that makes a purchase at an Apple

store will be offered free personal setup service, which will help them

customize their device.

The phone will be available in more than 22 countries on Sept. 28.

Aside

from Apple stores, the iPhone 5 will be available at Apple's website as

well as through AT&T, Sprint, Verizon Wireless, some Best Buy,RadioShack, Target and Walmart stores and certain Apple authorized

resellers.

Earlier Monday AT&T Inc. said it set a sales record

for the iPhone 5, with customers ordering more of them than any

previous iPhone model on the first day of orders and over the weekend.

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