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