Apple Inc's Shares Dip Slightly as iPhone 5S Sells Out in 1 Day, CEO Tim Cook Officially Joins Twitter (VIDEO)
By Reissa Su | September 23, 2013 7:00 PM EST
Apple Inc fans have been lining up outside Apple stores around the world since Sept. 20 just to be one of the first consumers to get their hands on the latest iPhone models, the iPhone 5C and iPhone 5S. Despite the release of the two new iPhone models in the company retail stores, Apple Inc's share price decreased slightly as Apple investors hold off and wait for the new iPhones' initial sales data which will be released about a week after.
Customers of Apple Inc endured the long lines outside the stores in Sydney, New York, San Francisco, Tokyo and other cities. Apple broke its long-standing tradition and released two new iPhones in the market with the premium iPhone 5S and its less expensive sibling, the iPhone 5C.
Apple Inc observers said early signs indicate that the iPhone 5S has a higher demand compared to the iPhone 5, the 2012 iPhone model. However, some analysts said the size of the crowd and the length of the lines outside Apple stores were not accurate measures of iPhone 5S demands.
Apple Inc consumers who want the more premium iPhone were unable to order it online ahead of its scheduled sale in stores unlike with the iPhone 5. Apple observers said it was possible that the long lines were due to not being able to pre-order the latest iPhone, but ISI Group analyst Brian Marshall said he also believes that Apple Inc still commands a strong following from its consumers.
In 2013, Apple Inc sold over 5 million iPhone 5 units on its first weekend debut.
Analyst Gene Munster predicted that Apple will sell 5 to 6 million new iPhones over the weekend. He was with Piper Jaffray who conducted a survey outside Apple stores in New York, San Francisco and Minneapolis. Mr Jaffray found that 95 per cent of people waiting in queue wanted to buy the iPhone 5S with fingerprint scanner available in champagne gold, space grey and silver.
The gold-coloured version of the iPhone 5S was already sold out in Apple stores on its first day of release. The highly in-demand model will ship only in October as indicated in Apple's Web site. Those who will be opting for the grey and silver versions of the iPhone 5S will only wait 7 to 10 days for the item to be shipped.
Apple Inc's stock dipped by 1 per cent at market trading close last Friday, Sept. 20, while component suppliers, Avago and TriQuint enjoyed a higher share price after investors confirmed them as Apple suppliers.
Apple Inc (NASDAQ:APPL) shares went up initially with a high of $478.55 per cent before slightly falling to 1 per cent at $467.41.
Apple CEO Tim Cook joins Twitter
With the release of Apple Inc's latest iPhones in stores, CEO Tim Cook marked the day by officially joining Twitter. Mr Cook is the latest famous personality to join the social media site. For those who want to follow Apple's chief, his verified account name is @tim_cook.
According to news reports, the Apple CEO signed up on Twitter on Sept. 20. His first and only tweet so far was about his visit to the nearest Apple store in his Palo Alto office in California.
Visited Retail Stores in Palo Alto today. Seeing so many happy customers reminds us of why we do what we do.
— Tim Cook (@tim_cook) September 20, 2013
As expected of Apple fans, Tim Cook's account on Twitter has 219,706 followers and counting. In just 19 minutes since he first joined Twitter, his followers jumped from 8,000 to 24,000. He is following 29 accounts belonging mostly to media personalities. He has followed band, Kings of Leon. Tim Cook retweeted Conan O'Brien's post:
iOS7? More like iOSHeaven. #ApplePleaseSendMeAniPad — Conan O'Brien (@ConanOBrien) September 22, 2013
It may not be surprising to analysts that Tim Cook joined Twitter since both companies have always had a close relationship over the years.
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