Apple says it has sold 9M new iPhones since Friday - San Diego, California News Station - KFMB Channel 8 - cbs8.com

Apple says it has sold 9M new iPhones since Friday

Posted: Updated:
(AP PHOTO) (AP PHOTO)

NEW YORK (AP) — Apple says shoppers snapped up 9 million of its newest iPhones since the devices were launched Friday, and that demand is exceeding supply. Its shares jumped 6 percent in premarket trading.

Apple says the two new models gave it its strongest iPhone launch ever. The company began selling the low-cost 5C and top-of-the-line 5S on Friday.

The company says demand for iPhone 5s has exceeded the initial supply, and many online orders are scheduled to be shipped in the coming weeks.

Wall Street hadn't been enthusiastic about the new models, which were unveiled earlier this month.

Apple also said its fourth-quarter revenue will be at the high end of its estimates. The company had projected $34 billion to $37 billion in total revenue, and it also said gross margins will be near the high end of its expectations.

FactSet says analysts were forecasting $36.17 billion in revenue.

Shares of Apple gained $30.37, or 6.5 percent, to $497.78 in premarket trading. The Cupertino, Calif., company's stock is down about 12 percent in 2013 and has lost almost third of its value over the last year.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • <div style="font-weight:bolder;font-size:22px;">ENTERTAINMENT <a href ="/Global/category.asp?C=154659" style="font-size:12px;padding-left:80px;">more entertainment &raquo;</a></div>EntertainmentMore>>

  • BSkyB to create multinational European TV network

    BSkyB to create multinational European TV network

    Sunday, July 27 2014 10:34 PM EDT2014-07-28 02:34:52 GMT
    London-based satellite broadcaster BSkyB has announced agreements to purchase Sky Italia and 57 percent of Sky Deutschland from 21st Century Fox. 
    London-based pay TV network BSkyB has agreed to take control of its sister companies in Italy and Germany, creating a multinational European broadcaster. The deal could have a wider impact on the media industry, giving... 
  • 'Lucy' tops 'Hercules' with $44M at box office

    'Lucy' tops 'Hercules' with $44M at box office

    Sunday, July 27 2014 9:51 PM EDT2014-07-28 01:51:10 GMT
    Luc Besson's "Lucy" proved mind can overpower muscle, topping a remake of "Hercules" by director Brett Ratner at the box office on the weekend. 
    Luc Besson's "Lucy" proved mind can overpower muscle, topping a remake of "Hercules" by director Brett Ratner at the box office on the weekend. 
  • Charles Russell art fetches millions at auction

    Charles Russell art fetches millions at auction

    Sunday, July 27 2014 6:35 PM EDT2014-07-27 22:35:28 GMT
    A total of 30 Charles M. Russell works fetched millions of dollars at auction in Reno, with one painting symbolizing the railroad's effect on American Indians drawing $1.9 million and another depicting a Native... 
    A total of 30 Charles M. Russell works fetched millions of dollars at auction in Reno, with one painting symbolizing the railroad's effect on American Indians drawing $1.9 million and another depicting a Native... 
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Midwest Television, Inc. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.