retail news in context, analysis with attitude

Last week it was reported that Apple Inc. had sold out of its new iPhone 5 smartphone within an hour of opening its website to preorders; the phone is scheduled to go on sale in stores this Friday.

Now, there are some numbers to go with the anecdotal reports. The Los Angeles Times reports that Apple "obliterated its single-day sales record for iPhone pre-sales, announcing that it took orders for more than 2 million iPhone 5s last Friday. That was more than double its previous mark of 1 million iPhones ordered the first day of pre-sales in October for the iPhone 4S."

At least in part as a reflection of those sales, Apple's stock closed yesterday at $701.91, and the Times notes that Apple, as the world's most valuable company, "is now worth nearly $656 billion - about six times its value in June 2007, when it released the first iPhone."
KC's View:
Raise your hand if you wish that you'd bought Apple stock about two years ago when it was selling for around $279...or a year ago when it was in the high $300 range ... or even four months ago when it was selling for around $530...