FutureFive NZ - Apple stock hits record with iPhone 4S release

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Apple stock hits record with iPhone 4S release

A fortnight of highs and lows for Apple, culminating in the release of the iPhone 4S on Friday, has seen the company’s share value soar to an all-time high ahead of its latest quarterly earnings report, due out this week.  

Apple shares closed at US$422 on Friday, representing a US$13.57 or 3.3% increase from the previous day.

The record comes after a torrid two weeks, with the company unveiling its iPhone 4S to a lukewarm reception from analysts, suffering the passing of iconic founder Steve Jobs, releasing iOS 5 and iCloud, and finally, releasing the iPhone 4S to a much more receptive public.

We’ll probably find out exactly how the iPhone 4S did on its opening weekend when Apple announces its latest quarterly earnings report, which will happen at 2pm on Tuesday (10am Wednesday NZ time).

However, with the company taking one million pre-orders, and retail outlets enjoying the usual fan frenzy, it’s a good bet the device will outdo the 1.7 million units sold during the iPhone 4’s first weekend.

PiperJaffray analyst Gene Munster has predicted the weekend’s sales could reach between 2 and 2.5 million units, while Yankee Group's Carl Howe puts the figure as high as 4 million.

Apple still hasn't indicated when we may see the iPhone 4S in New Zealand.

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