iPhone 5 launch pushes Apple to new high
Apple shares hit another all-time as consumers lined up Friday outside stores in Asia, Europe and North America to get their hands on the iPhone 5.
Apple's latest technology went on sale in the U.S., Canada, Australia, Japan, Hong Kong, Singapore, Britain, France and Germany. It will launch in 22 more countries a week later.
So far, the phone has recieve rave reviews, save for a stumble after the company booted Google maps in favor of its own technology. There have been complaints about inaccuracies, which Apple said will be corrected as more people use it.
Flying high
Apple Inc.'s iPhone 5 is thinner, lighter, has a taller screen, faster processor, updated software and can work on faster "fourth generation" mobile networks.
Apple received 2 million orders in the first 24 hours of announcing its release date, more than twice the number for the iPhone 4S in the same period when that phone launched a year ago.
Many devotees of Apple took a pass on the iPhone 4S, so demand has been building up since the iPhone 4 was released more than two years ago.
Shares of Apple Inc. rose $5.80 to reach the new high of $704.50 in early trading. Shares surpassed $700 for the first time on Tuesday.
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