Apple shares boosted by iPhone 5 orders

<p>Apple shares have been boosted by iPhone 5 orders.</p>

Apple shares have been lifted on the Nasdaq index on Wall Street thanks to pre-orders for the iPhone 5.

The value of the California-based technology giant reached a new record high of almost $700 after the firm revealed it has received nearly two million requests from fans of the gadget – in the space of 24 hours – for the latest incarnation of the iconic smartphone.

Apple customers can look forward to some of the handset's new characteristics, which include a taller, lighter build and 4G capabilities.

Many of the latest models will be delivered to stores over the course of this week, but some people will not receive their new iPhone until October.

At close of play last night, Apple's share price on the Nasdaq was up 1.2 per cent to $699.78.

Shares in the company – which was founded by the late Steve Jobs in 1976 – have jumped 70 per cent since January.

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