Dec 17 2012, 2:08am CST | by Luigi Lugmayr
Apple today announced it has sold over two million of its new iPhone 5 in China, just three days after its launch on December 14. iPhone 5 will be available in more than 100 countries by the end of December, making it the fastest iPhone rollout ever.
“Customer response to iPhone 5 in China has been incredible, setting a new record with the best first weekend sales ever in China,” said Tim Cook, Apple’s CEO. “China is a very important market for us and customers there cannot wait to get their hands on Apple products.”
The Apple stock took a beating over the last days. It closed on Friday at $509.79. I am pretty sure that based on these record sales of the iPhone 5 in China that the Apple stock will jump today.
Disclaimer: I own Apple stock.
Now investors seem to have read the Apple China iPhone 5 announcement. Apple Stock gains modestly.
The stock market does not care about the China iPhone 5 sales record. The rather listen to analysts. Citigroup downgraded the Apple shares. I am not quite sure what the concerns are about Apple these days. All indicators point to a record holiday sales season. Maybe its the fact that nobody knows how 2013 will be like. We only know that their will be new versions of existing products, but is that enough? Some say Apple needs to release a major software overhaul. Maybe that is coming in 2013. And than there is the Apple Television, but I do not see that yet as a game changer.
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at firstname.lastname@example.org.
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