Boost for Apple as its website in China runs out of new iPhone 5s

Oliver Smith
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APPLE’S share price yesterday rose for the first time since its unveiling of new iPhones underwhelmed investors and analysts last week.

Shares in the Cupertino-based company were lifted 1.16 per cent to $455.32 at the close of trading last night, as a high number of reservations on Apple’s Chinese website for the new iPhone 5s resulted in it running out of stock.

While Apple still has yet to publish exact pre-order numbers for the new devices – it typically touts numbers soon after products are available for pre order – news that Apple’s Chinese website has run out of reservations is a good indication.

Reservations are different from pre-orders, as a reservation does not require money up front but does guarantee a spot in store to pick up a phone.

China Telecom, the governmentowned company, announced it had surpassed 100,000 pre-orders on Monday.