After flirting with it during the trading day, Apple broke through and hit $700 in after-market trading this afternoon.
The stock was driven by Apple announcing that it got 2 million pre-orders for the iPhone 5, the most pre-orders for an iPhone ever and double the previous record of 1 million for the iPhone 4S.
Later in the afternoon, Gene Munster said at the worst he thinks Apple sells 6 million iPhone 5s during its first weekend of sales. More likely, he’s anticipating 8 million sold, which would double last year’s opening weekend iPhone sales.
Source: Business Insider