The share price of Apple has jumped today (September 23rd) after the company announced sales of its latest smartphone, the iPhone 5S, have been high.
In the three days since the device was released in markets around the world, the company sold nine million of the phones, it revealed in a statement.
Chief executive Tim Cook stated that demand for the new iPhones has been "incredible" since the launch over the weekend. As well as the iPhone 5S, Apple released a budget version of the smartphone, which it called the iPhone 5C.
"While we've sold out of our initial supply of iPhone 5S, stores continue to receive new iPhone shipments regularly," said Mr Cook.
He added that the company is appreciative of everyone's patience at this time as the firm works hard to deliver more iPhones to suppliers around the world.
At 15:37 BST this afternoon, the Apple share price was up by almost four per cent on the start of the day on the back of the sales announcement.
Find up to date information on the FTSE 100 and spread betting strategies at City Index
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.