Long Lines Suggest Record iPhone Launch Weekend Alistair Barr - USA Today
go to original September 23, 2013

The Dark Side of the iPhone 5S Lines (caseyneistat)

Long lines outside Apple stores lifted hopes on Wall Street that the company had a record sales launch for its new iPhones this past weekend.

The high-end iPhone 5s and the cheaper iPhone 5c went on sale in the U.S., China and nine other territories on Friday. Investors are watching closely because Apple shares have slumped by a third in the past year amid questions about the company's strategy and rising competition in the smartphone market.

Apple stock closed Friday at $467.41, down 1.04%.

"Lines lingered well into the weekend," Brian Marshall, an analyst at ISI Group, said Sunday evening. "Demand was solid across the board."

He's expecting Apple to have sold a record 6 million iPhones over the weekend, up 20% from last year, when the company sold 5 million iPhone 5 models the first weekend — the previous record for a launch weekend.

Analysts at Cowen & Co. are expecting launch weekend sales of 7 million to 8 million units.

Read the rest at USA Today

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