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Technology Stocks : Apple Tankwatch -- Ignore unavailable to you. Want to Upgrade?

To: zax who wrote (24170)	12/16/2012 9:20:10 PM
From: puborectalis	Read Replies (3) \| Respond to of 32685

Apple Says iPhone 5 Sales Topped Two Million in China During First Weekend DECEMBER 16, 2012 AT 5:37 PM PT Apple has sold more than two million of its flagship iPhone 5 devices in China since making it available on Friday. In a statement, Apple’s CEO Tim Cook said, “Customer response to iPhone 5 in China has been incredible, setting a new record with the best first weekend sales ever in China.” Apple said the iPhone 5 will be available in more than 100 countries by the end of December, making it the fastest iPhone roll out ever. China is clearly one of its most important markets given the sheer volume of people living there. To date, iPhone 5 sales have been somewhat limited due to a shortage of supply. By now, analysts were hoping Apple would be able to meet demand for the iPhone 5, and by the looks of it, it has since it was able to fulfill a couple million orders in China alone over the weekend. Piper Jaffray analyst Gene Munster is anticipating that 49 million unit will be sold during the current holiday quarter. The 2 million figure will come as a surprise to traders who pushed Apple to a 10-month low Friday after reports that Apple Stores in Beijing and Shanghai were nearly devoid of customersthe day of the launch. It turns out that most of the action over the weekend was at the retail outlets of Apple's carrier partners -- China Unicom ( CHU) and China Telecom ( CHA) -- where the phones were being sold on long contracts with generous price subsidies.